Veefin Solutions IPO will open for subscription from 22 June 2023. the company aims for an issue size of ₹46.73 Cr through this IPO.
Company Overview
| Full name | Veefin Solutions Limited |
| Sector | Information Technology |
| Industry | IT-Software |
| Company Website | https://www.veefin.com/ |
About Company
Incorporated in 2020, Veefin Solutions is a Digital Lending and Supply Chain Finance (SCF) technology product solutions company based in Mumbai. Supply Chain Finance is a financial tool that is used to help businesses manage their cash flow and improve their working capital. The company provides product solutions to a wide range of clients globally, including Banks, Non-Banking Financial Institutions, FinTech, Marketplaces, and Corporates. Its technology product solutions are unique offerings, which are designed with a user-led approach, data, and analytics, and built by experienced bankers for bankers.
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. Veefin Solutions operate the business in the following two segments:
- Supply Chain Finance Technology Solutions – This segment is primarily focused on enabling financial institutions to efficiently and effectively manage their supply chain financing activities. By leveraging technology, financial institutions can offer their clients faster and more cost-effective financing solutions that are tailored to their specific needs. The Supply Chain Finance Solutions segment is focused on providing technology-driven financing solutions that can streamline supply chain financing processes and help businesses manage their cash flow more effectively.
- Digital Lending Suite Solutions – The Digital Lending Suite Solutions segment is a comprehensive suite of products and services that cater to the lending needs of financial institutions. This segment includes various technology solutions that help financial institutions streamline their lending operations and improve their customer experience.
The Objective of the Issue
- Global sales and marketing expenditure,
- Developing new products or enhancement and maintenance, upgrading or updating existing products, and
- General Corporate Purpose.
Veefin Solutions IPO Timetable
| IPO Opening date | 22 June 2023 |
| IPO Closing | 26 June 2023 |
| Basis of Allotment | 30 June 2023 |
| Initiation Refund | 03 July 2023 |
| Credit to Demat Account | 04 July 2023 |
| Listing Date | 05 July 2023 |
Veefin Solutions IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹46.73 Cr – 5,699,200 shares |
| Fresh Issue | ₹23.37 Cr – 2,849,600 shares |
| Offer for sale | ₹23.37 Cr – 2,849,600 shares |
| Face value | ₹10 per share |
| Offer Price | ₹82 per share |
| Lot size | 1600 Shares |
| Retail Allocation | 50% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹131,200 |
| Retail (Max) | 1 | 1600 | ₹131,200 |
| HNI (Min) | 2 | 3,200 | ₹262,400 |
Reservation Details
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2022 | 10M FY 2023 | |
| Revenue | 654.95 | 1,213.79 |
| Expenses | 570.46 | 807.38 |
| Net income | 70.01 | 350.02 |
Valuations & Margins
| FY 2022 | |
| EPS | 0.48 |
| PE ratio | 170.83 |
| RONW (%) | 7.57 |
| NAV | 6.36 |
| ROCE (%) | 11.24 |
| EBITDA (%) | 15.88 |
| Debt/Equity | 0.37 |
Company Promoters
- Mr. Raja Debnath
- Mr. Gautam Vijay Udani.
Promoter Holding
| Pre Issue Share Holding | 56.26% |
| Post Issue Share Holding | 39.84 |
Lead Manager(s)
SHRENI SHARES PRIVATE LIMITED
Office No. 102, 1st Floor, Sea Lord CHS,
Ram Nagar, Borivali (West), Mumbai – 400 092, Maharashtra
Phone: 022 – 2808 8456
Email: shrenishares@gmail.com
Website: www.shreni.in
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
VEEFIN SOLUTIONS LIMITED
Off No-601, 602 & 603, Neelkanth Corporate IT Park,
Kirol Road, Vidhya Vihar (West), Mumbai – 400 086, Maharashtra
Phone: +91 9004917712
E-mail: investors@veefin.com
Website: www.veefin.com
Allotment Status
Veefin Solutions IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Veefin Solutions IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
