Veranda XL, a unit of Veranda Learning Solutions (NSE:VERANDA, BOM:543514), has entered into a memorandum of understanding with SRM Institute of Science and Technology based in Tamil Nadu, India, to offer professional chartered accountancy coaching classes, according to a Thursday filing to the stock exchanges.

The coaching classes will be offered at SRM Institute's campus under the brand of JK Shah Classes.

Shares of the company were down nearly 1% in recent trade.