Veefin Solutions Limited is a Digital Lending and Supply Chain Finance (SCF) technology product solutions company based in Mumbai.
The company provide their product solutions to wide range of clients globally, including Banks, Non-Banking Financial Institutions, FinTech, Marketplaces, and Corporates.
The company’s SCF product and platform are highly flexible and can be promptly configured to meet the specific needs of their clients, without relying on third-party execution. Company’s cutting-edge technology products offer unmatched flexibility to their clients, facilitating quick and efficient configuration and implementation of their products.
Veefin Solutions’ client list includes Banks, Non-Banking Financial Institutions, FinTech, Marketplaces, and Corporates such as Yes Bank, IndusInd Bank, Indian Bank, Citi Bank, BRAC, VP Bank, Riyadh Bank, Aditya Birla Capital, Mintifi, Ambit Finvest, and others.
The company was awarded the “Most Innovative Supply Chain Finance Solution” at the Fintech India Summit & Awards, 2022, and “Solution of the Year 2021; SCF” at the Inflection Web Conference by Alden Global, CSCMP, SIMM & NASSCOM.
Veefin Solutions IPO – Details
| IPO Opening Date | 22 June 2023 |
| IPO Closing Date | 26 June 2023 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | 56,99,200 Shares Worth ₹[] Crore Fresh Issue: 28,49,600 Shares Worth ₹[] Crore Offer For Sale: 28,49,600 Shares Worth ₹[] Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹82 |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares (1 Lot) |
| Listing At | BSE SME |
| Register | Bigshare Services Private Limited |
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Veefin Solutions IPO – Date Schedule
| IPO Open Date | 22 June 2023 |
| IPO Close Date | 26 June 2023 |
| Basis of Allotment | 03 July 2023 |
| Initiation of Refund | 04 July 2023 |
| Credit of Shares to Demat Account | 05 July 2023 |
| IPO Listing Date | 06 July 2023 |
Veefin Solutions IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Minimum) | 1 | 1600 | 1,31,200 |
| Retail (Maximum) | 1 | 1600 | 1,31,200 |
| HNI (Minimum) | 2 | 3200 | 2,62,400 |
Competitive Strengths
- Domain knowledge in, and full spectrum coverage of, the BFSI Industry;
- Entrenched Global Sales Network;
- End to End Stack for Supply Chain Finance;
- Implementation Timelines;
- Pricing;
- Deployment Agnostic;
- Experienced promoters and management team; and
- Established relationships with customer base.
Company Promoters
- Mr. Raja Debnath
- Mr. Gautam Vijay Udani
Object Of The Issue
- Global – sales and marketing expenditure;
- Developing new products or enhancement and maintenance, upgrading or updating existing products; and
- General Corporate Purposes.
Company Financial
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2021 | 0.80 | 0.69 | 0.14 |
| 31 March 2022 | 6.18 | 5.70 | 0.29 |
| 31 January 2023 | 11.76 | 7.40 | 3.30 |
Veefin Solutions IPO Promoter Holding
| Pre Issue Share Holding | 56.26% |
| Post Issue Share Holding |
Veefin Solutions IPO Prospectus
- Veefin Solutions IPO DRHP
- Veefin Solutions IPO RHP
Company Contact Information
| Veefin Solutions Limited Off No-601, 602 & 603, Neelkanth Corporate IT Park, Kirol Road, Vidhyavihar (West), Mumbai – 400 086, Maharashtra, India Phone: +91 9004917712 Email: investors@veefin.com Website: https://www.veefin.com/ |
Veefin Solutions IPO Registrar
| Bigshare Services Private Limited Phone: 022 – 6263 8200 Email: ipo@bigshareonline.com Website: www.bigshareonline.com |
Veefin Solutions IPO Lead Manager(s)
| 1. Shreni Shares Private Limited |
Veefin Solutions IPO FAQs
| What is Veefin Solutions IPO? Veefin Solutions IPO is a SME IPO. The issue is priced at ₹82 per equity share. The IPO is to be listed on BSE SME. |
| When Veefin Solutions IPO will open? The IPO is to open on 22 June 2023 for NII and Retail Investors. |
| How to Veefin Solutions IPO? You can apply Veefin Solutions IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Veefin Solutions IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Veefin Solutions”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Veefin Solutions IPO through Edelweiss? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Veefin Solutions”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Edelweiss. |
| What is Veefin Solutions IPO Size? Veefin Solutions IPO size is ₹[] crores. |
| What is Veefin Solutions IPO Price Band? Veefin Solutions IPO Price Band is ₹82. |
| What is Veefin Solutions IPO Minimum and Maximum Lot Size? The minimum bid is 1600 Shares with ₹1,31,200 amount while the maximum bid is 1600 shares with ₹1,31,200. |
| What is the Veefin Solutions IPO Allotment Date? Veefin Solutions IPO allotment date is 03 July 2023. |
| What is the Veefin Solutions IPO Listing Date? Veefin Solutions IPO listing date is 06 July 2023. The IPO is to list on BSE SME. |
