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Veritas Finance will soon announce the open date, close date, allotment details and listing timelines of the IPO.
Non-Banking Financial Company (NBFC) Veritas Finance, which focuses on retail finance, has got the green signal from the Security Exchange Board of India i.e. SEBI for IPO. With this IPO, the company wants to raise Rs 2,800 crore.
Public offering includes a new issue of equity shares of Rs 600 crore and sales of equity shares up to Rs 2,200 crore, ie O O O O Once Value of Equity Share is Rs 10. The IPO also includes a reservation of shares for the Eligible Employees.
What will the company use the funds collected from IPO?
Funds collected from IPO will be used to increase the capital base of the company. Apart from this, the company will also use funds to meet business needs and lending facilities.
What does Veritas Finance established in 2015 work?
The Veritas Finance established in 2015 meets the financial needs of micro, small and medium enterprises (MSME) and Self Employees Individuals. The company provides many financial products including small business loans, home loans and used commercial vehicle loans.
ICICI Securities-HDFC Bank lead manager elected
Veritas Finance has been classified by Reserve Bank of India i.e. RBI as ‘NBFC-Middle Layer’. ICICI Securities, HDFC Bank, Jefferies India, Kotak Mahindra Capital Company and Nuwama Wealth Management have been elected lead managers for IPO.
Caffein Technologies are Registrar for this issue. Apart from this, the company will soon announce the open date, close date, allotment details and listing timelines of the IPO.
Veritas’s CAGR of 61.76% from 2022 to 2024
According to Crisil Mi & A report, Veritas has a compound annual growth rate (CAGR) of Veritas 61.76% from 2022 to 2024. Along with this, Veritas is recognized as the fastest growing NBFC in his category.
The company’s total income increased by 39.5% in FY 2025
Veritas Finance announced its audited financial results for FY 2025, with its total income by 39.5% to Rs 1,550.67 crore. At the same time, the company’s net profit increased by 20.47% to Rs 295.11 crore. For the reported year, the company got a growth of 19.47% in the net worth and it has increased to Rs 2,783.17 crore.
