CA coaching institute BB Virtuals sells 51% stake to Veranda Learning for ₹126.2 crores

• BB Sir aka Bhanwar Borana was rejected by multiple CA Coaching institutes, including J K Shah Classes.
• With continued determination, in 2017, he founded BB Virtuals, an online CA coaching platform!
• On 12th December 2024, Veranda Learning acquired a 51% stake in BB Virtuals, valued at an impressive ₹248 crore!

Veranda Learning’s journey

Founded in 2018 by Kalpathi AGS Group Veranda Learning Solutions quickly established itself as a powerhouse in the education space.

Veranda is a publicly listed digital learning platform offering test prep for government exams, banking, insurance, railways, and more.

Veranda has created a robust portfolio to shape the careers of countless students: From competitive exam preparation for IAS, State Public Service Commissions, Banking, Insurance, and Railways to professional skilling and upskilling programs,

In 2023, Veranda announced the acquisition of industry leader J.K. Shah Classes. The acquisition, valued at ₹337.82 crore, is being executed in two phases:

• 76% stake in the first phase
• Remainder to follow in 2025

But that’s not all folks.

The strategic acquisition

In 2024, Veranda Learning decided to double down on its growth aspirations with ₹250 crore preferential issues. And with this:

• Acquired a 51% stake in BB Virtuals (an online platform for CA aspirants) for ₹126.2 Crores, valuing the company at ₹248 Crores.
• Acquired a 65% stake in Navkar Digital Institute, founded by educator Hiteshkumar Shah (a platform for CA aspirants in Gujarat), for ₹45.5 Crores

Both of these acquisitions will be integrated with JK Shah Classes.

The Chennai-based Veranda earlier this year also acquired Tapasya Educational Institutions for INR 362 Cr ($44 Mn). Why? To expand its commerce higher education offerings.

Why all these acquisitions?

These acquisitions will enhance Veranda’s existing portfolio of being a leader in CA/CMA/ACCA training.

Here is Professor J.K. Shah announcing the news on social media, on October 12^th,

“Today, we have some exciting news for you. I am thrilled to welcome BB Sir, your most respected teacher, and BB Virtuals to the Veranda family, of which JK Shah Classes has been a part for the past two and a half years.”

Hitesh Shah, MD of Navkar Institute, expressed his enthusiasm about the collaboration, stating, “We are thrilled to work alongside JK Shah Classes and Veranda Learning, leveraging our combined strengths to grow the business and continue supporting students in achieving their professional dreams.”

• While J.K. Shah specializes in offline classes across India and abroad, BB Virtuals focuses on online CA and CMA coaching.
• With this collaboration, students can now access both face-to-face and virtual classes on a unified platform.
• Together, they aim to provide seamless access to top-notch education for CA, CMA, CS, and even international courses.
• Students will receive high-quality lectures, comprehensive study materials, and structured test programs at affordable fees.

BB Sir’s humble beginnings

In a podcast with CA Kushal Lodha, he shared his journey.

Hailing from a small town in Rajasthan, Bhanwar Borana was born into a modest family that relied on agricultural farming.

He began his education in a government school.

Bhanwar recalls he wasn’t academically inclined in his early years, managing to score just 56% in 10th Grade.

Can you believe it?

But it all changed once he realized the power of education and its ability to transform his parents’ lives, he began studying with dedication.

In 11^th Grade, his hard work paid off as he achieved a first division, and in 12^th Grade, he topped his class.

Bhanwar then pursued the Chartered Accountancy course, which again wasn’t an easy journey!

Career in teaching seemed impossible but he persisted

Even during his CA preparation, Professor Bhanwar nurtured his passion for teaching.

He began teaching early in his career to support his family with a modest income. Rejections came his way, including from coaching giants like J.K. Shah Classes.

Determined, he took up teaching various subjects, including Costing, and initially taught B.Com students to get a foothold in the profession.

After moving to Mumbai, he started teaching General Management and Communication Skills (GMCS) classes to get by.

In 2012, he began teaching Costing at ICAI and later, in 2013, Income Tax.

2017 was a turning point

• Published two revision lecture videos on YouTube, to foray into the world of online coaching. The rise of affordable internet, (thanks to Jio), made his content go viral.
• His book, Direct Tax Compact, became a bestseller, which he initially sold from home through Amazon.
• Launched BB Virtuals.
• BB Virtuals, led by CA Bhanwar Borana has taught over 2 lakh students over the last 12 years. 500 students have secured a rank in the CA exams with his guidance.

From dreaming of earning just ₹10,000 a month to teaching Direct Tax to over 50,000 students annually – talk about aiming for the moon and landing among the stars!

Wrapping up

Veranda Learning Solutions is focused on unlocking value through its strategic 4-pillar approach, encompassing

• Academics
• Commerce
• Government test preparation
• Study abroad.

It recently appointed three new board members as a part of its larger initiative to professionalise the board:

• Jitendra Kantilal Shah, founder of JK Shah Classes
• Ashok Misra, former Director of IIT Bombay
• Alamelu