Veritas Finance Ltd. IPO Details
Veritas Finance Ltd. was incorporated on April 30, 2015. The company addresses the financial needs of underserved and underbanked MSMEs and individuals by offering credit access. Its products include small business loans, housing loans, used commercial vehicle loans, and working capital loans to bridge the credit gap
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 0 | - | - | ₹28,000.0 M | DRHP DOC |
Veritas Finance issue details
Veritas Finance IPO issue size is ₹ 28,000.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Veritas Finance IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Veritas Finance NUMBER OF SHARES ON OFFER
Veritas Finance FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| H1FY25 | 1,331.1 | 7,168.5 | -6,784.9 | -6,840.5 |
| FY24 | 2,450.5 | 11,112.0 | -19,365.6 | -19,575.5 |
| FY23 | 1,764.0 | 6,802.3 | -11,728.0 | -11,873.6 |
| FY22 | 754.0 | 4,420.9 | -5,531.5 | -5,565.1 |
Veritas Finance INFORMATION ON IPO ISSUE
About Veritas Finance
Veritas Finance Ltd. was incorporated on April 30, 2015. The company addresses the financial needs of underserved and underbanked MSMEs and individuals by offering credit access. Its products include small business loans, housing loans, used commercial vehicle loans, and working capital loans to bridge the credit gap
Object of the Issue
- To undertake its existing business activities
- To undertake the activities proposed to be funded from the net proceeds
Veritas Finance - PROMOTERS
| Name |
|---|
| Raj Vikash Verma |
| D. Arulmany |
| Parin Nalin Mehta |
| Sudhir Narayanankutty Variyar |
| Suresh Subramanian |
| Mathew Joseph |
| Sankarson Banerjee |
| Susan Thomas |
Veritas Finance Book Running Lead Manager
ICICI Securities Limited
veritas.ipo@icicisecurities.com
HDFC Bank Limited
veritas.ipo@hdfcbank.com
Jefferies India Private Limited
veritas.ipo@jefferies.com
Kotak Mahindra Capital Company Limited
veritas.ipo@kotak.com
Nuvama Wealth Management Limited
veritas.ipo@nuvama.com
Veritas Finance Registrar to the Offer
KFin Technologies Limited
veritas.ipo@kfintech.com
Veritas Finance Strengths
In-house distribution network
The company leverages an extensive in-house distribution network to serve borrowers in rural and semi-urban markets while also utilizing this footprint to support multiple new business ventures
Risk management framework
The company combines automation with a personalized approach in its credit assessment, utilizing a proprietary "triple AAA" filter alongside AI and ML-driven credit scoring models to ensure thorough borrower evaluation
Resilient operating model
The company leverages technology as an enabler, adopting a "technology-led" approach to automate the entire loan process from sourcing to collections, creating a scalable and resilient operating model
Veritas Finance Risks
Capital intensive
The company relies on substantial funding for operations, with total borrowings of Rs 48,894.18 million as of September 30, 2024. Any disruption in funding sources could negatively impact its business, financial condition, operations, and cash flows
Interest rate volatility risks
Volatility in interest rates impacts the company's lending and treasury operations, potentially causing fluctuations in net interest income and margin, which could adversely affect its business, financial condition, operations, and cash flows
Borrower information risks
The company relies on the accuracy and completeness of borrower information. Any fraud, misrepresentation, or errors in such data could impact credit assessments, asset quality, business performance, financial condition, and cash flows
IPO FAQs
The promoters of the company are Raj Vikash Verma, D. Arulmany, Parin Nalin Mehta, Sudhir Narayanankutty Variyar, Suresh Subramanian, Mathew Joseph, Sankarson Banerjee and Susan Thomas.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.