Veefin Solutions Limited, founded in 2020 and headquartered in Mumbai, is a leading provider of digital lending and supply chain finance (SCF) technology solutions.
The company operates through two primary segments:
- Supply Chain Finance Technology Solutions: Veefin Solutions specializes in offering technology-driven financing solutions that streamline supply chain finance processes and these solutions enable businesses to effectively manage their cash flow and optimize supply chain operations.
- Digital Lending Suite Solutions: Veefin Solutions provides a comprehensive suite of solutions designed to enhance lending operations for financial institutions and these solutions empower institutions to deliver a superior customer experience while improving the efficiency and effectiveness of their lending processes.
Veefin Solutions boasts an impressive client portfolio, which includes renowned banks, non-banking financial institutions, fintech companies, marketplaces, and corporates. Some of their notable clients include Yes Bank, IndusInd Bank, Indian Bank, Citi Bank, BRAC, VP Bank, Riyadh Bank, Aditya Birla Capital, Mintifi, Ambit Finvest, among others.
The company has been recognized for its innovative solutions and industry contributions. Veefin Solutions received the prestigious “Most Innovative Supply Chain Finance Solution” award at the Fintech India Summit & Awards in 2022. Additionally, they were honored with the “Solution of the Year 2021; SCF” award at the Inflection Web Conference, jointly organized by Alden Global, CSCMP, SIMM, and NASSCOM.
With its cutting-edge technology solutions and a track record of industry recognition, Veefin Solutions Limited continues to play a significant role in transforming digital lending and supply chain finance practices.
Stock Quote #
- Open: ₹103.45
- High – Low: ₹103.45 – ₹95.00
- Previous Close: ₹98.53
- Total Traded Value: 2,92,800
- 52 Weeks High: ₹103.45 (Jul 18, 2023)
- 52 Weeks Low: ₹85.13 (Jul 12, 2023)
- Updated On: Jul 18, 2023 4:00 PM
VeefIPO Details #
| IPO Date | Jun 22, 2023 to Jun 26, 2023 |
| Listing Date | Jul 5, 2023 |
| Face Value | ₹10 per share |
| Price | ₹82 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,699,200 shares (aggregating up to ₹46.73 Cr) |
| Fresh Issue | 2,849,600 shares (aggregating up to ₹23.37 Cr) |
| Offer for Sale | 2,849,600 shares of ₹10 (aggregating up to ₹23.37 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 18,337,860 |
| Share holding post issue | 21,187,460 |
| Market Maker portion | 288,000 shares Shreni Shares |
IPO Reservation #
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 288,000 (5.05%) |
| Other Shares Offered | 2,705,600 (47.47%) |
| Retail Shares Offered | 2,705,600 (47.47%) |
| Total Shares Offered | 5,699,200 (100%) |
Veefin Solutions IPO Timetable (Tentative) #
Veefin Solutions IPO opens on Jun 22, 2023, and closes on Jun 26, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Thursday, 22 June 2023 |
| Closing Date | Monday, 26 June 2023 |
| Basis of Allotment | Friday, 30 June 2023 |
| Initiation of Refunds | Monday, 3 July 2023 |
| Credit of Shares to Demat | Tuesday, 4 July 2023 |
| Listing Date | Wednesday, 5 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 26, 2023 |
IPO Lot Size #
The Veefin Solutions IPO lot size is 1600 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹131,200 |
| Retail (Max) | 1 | 1600 | ₹131,200 |
| HNI (Min) | 2 | 3,200 | ₹262,400 |
| Lot Size Calculator | |||
Veefin Solutions IPO Promoter Holding #
The Promoters of the company are Mr. Raja Debnath and Mr. Gautam Vijay Udani.
| Pre Issue Share Holding | 56.26% |
| Post Issue Share Holding | 39.84% |
Company Financials #
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-22 | 1,607.93 | 655.19 | 70.01 | 925.10 | 923.86 | 346.32 |
| 31-Jan-23 | 4,821.70 | 1,262.36 | 350.02 | 4,293.21 | 2,459.43 | 50.81 |
| Amount in ₹ Lakhs | ||||||
Key Performance Indicator #
| KPI | Values |
|---|---|
| P/E (x) | 41.41 |
| Market Cap (₹ Cr.) | 173.74 |
| ROE | 13.42% |
| ROCE | 11.32% |
| Debt/Equity | 0.01 |
| EPS (Rs) | 0.48 |
| RoNW | 7.57% |
Objects of the Issue #
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Global sales and marketing expenditure,
- Developing new products or enhancement and maintenance, upgrading or updating existing products, and
- General Corporate Purpose.
Veefin Solutions IPO Subscription Status (Bidding Detail) #
Veefin Solutions IPO is subscribed 2.46 times on Jun 26, 2023 7:02:00 PM. The public issue subscribed 1.65 times in the retail category, times in the QIB category, and 3.26 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 3.26 |
| Retail | 1.65 |
| Total | 2.46 |
Total Application : 3,178 (1.88 times)
Veefin Solutions IPO Prospectus #
- Veefin Solutions IPO DRHP
- Veefin Solutions IPO RHP
IPO Listing Details #
| Listing Date | Jul 5, 2023 |
| BSE Script Code | 543931 |
| NSE Symbol | |
| ISIN | INE0Q0M01015 |
| Final Issue Price | ₹82 per share |
Listing Day Trading Information #
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹82.00 |
| ₹86.05 |
| ₹86.05 |
| ₹90.35 |
| ₹90.22 |
Check IPO Performance…
Company Contact Information #
Off No-601, 602 & 603,
Neelkanth Corporate IT Park,
Kirol Road, Vidhyavihar (West), Mumbai – 400 086
Phone: +91 9004917712
Email: investors@veefin.com
Website: https://www.veefin.com/
Veefin Solutions IPO Registrar #
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Veefin Solutions IPO Lead Manager(s) #
Frequently Asked Questions #
What is Veefin Solutions Limited and its business? #
Veefin Solutions Limited is a Digital Lending and Supply Chain Finance (SCF) technology product solutions company based in Mumbai. The company operates in two main segments: Supply Chain Finance Technology Solutions and Digital Lending Suite Solutions. It offers technology-driven financing solutions for supply chain management and lending operations to financial institutions and businesses.
What are the IPO details of Veefin Solutions? #
- Opening Date: June 22, 2023
- Closing Date: June 26, 2023
- Price: ₹82 per share
- Face Value: ₹10 per share
- Lot Size: 1600 shares
When will the Veefin Solutions IPO be listed on the stock exchange? #
listing date for the Veefin Solutions IPO is July 5, 2023. Regular trading will start at 10 AM on the listing day.
How can I check the Veefin Solutions IPO allotment status? #
Veefin Solutions IPO allotment status will be available on June 30, 2023. Investors can check their allotment status online by visiting the IPO registrar’s website and entering their PAN number, Application Number, or DP Client ID.
What is the basis of allotment for Veefin Solutions IPO? #
The basis of allotment for Veefin Solutions IPO will be finalized on June 30, 2023. Investors can check the ‘basis of allotment’ document to understand the allocation of shares.
What is the expected listing price of Veefin Solutions IPO? #
Expected listing price of Veefin Solutions IPO depends on various factors, including demand, market environment, and the state of the economy while the grey market premium can give some hints, and the actual listing price is difficult to guess.
How will Veefin Solutions IPO shares be allocated if oversubscribed? #
If the Veefin Solutions IPO is oversubscribed in the retail category, and the shares will be distributed on a proportionate basis to Retail Individual Investors (RIIs) whereas Each retail investor will get a minimum of 1 lot, subject to the availability of shares in the retail portion. If enough shares are not available, a lottery is drawn to choose the investors.
Is there any IPO recommendation for Veefin Solutions? #
The websites do not provide IPO recommendations. Investors are advised to read the prospectus document and IPO analysis from experts to make an informed decision.
Please note that the information provided here is based on the available data and may be subject to change.
