Veritas Finance Refiles IPO Papers with SEBI
Veritas Finance refiled its DRHP with SEBI to raise INR 900 crore through a fresh issue for its proposed IPO.
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Non-banking financial company (NBFC) Veritas Finance has refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). The company plans to raise INR 900 crore through a fresh issue of equity shares. It also plans an offer for sale (OFS) for existing shareholders.
According to the draft papers, the fresh issue will primarily be used to augment the company’s capital base, enabling it to meet future lending requirements and support business growth. As an NBFC, strengthening capital is expected to help the company expand its loan portfolio while complying with regulatory capital adequacy norms.
The company had previously filed draft IPO papers but withdrew them earlier this year.
Headquartered in Chennai, Veritas Finance provides secured lending solutions primarily to micro, small and medium enterprises (MSMEs), self-employed individuals and small business owners. Its loan portfolio includes business loans, housing loans and loans against property, with a focus on customers in semi-urban and rural markets.
The proposed listing comes amid continued activity in India’s primary market, with several companies across sectors filing draft papers with SEBI to raise growth capital as investor interest in IPOs remains strong.
ALSO READ: India’s IPO Pipeline Remains Robust: Equirus’ New Report
Non-banking financial company (NBFC) Veritas Finance has refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). The company plans to raise INR 900 crore through a fresh issue of equity shares. It also plans an offer for sale (OFS) for existing shareholders.
According to the draft papers, the fresh issue will primarily be used to augment the company’s capital base, enabling it to meet future lending requirements and support business growth. As an NBFC, strengthening capital is expected to help the company expand its loan portfolio while complying with regulatory capital adequacy norms.
The company had previously filed draft IPO papers but withdrew them earlier this year.
Headquartered in Chennai, Veritas Finance provides secured lending solutions primarily to micro, small and medium enterprises (MSMEs), self-employed individuals and small business owners. Its loan portfolio includes business loans, housing loans and loans against property, with a focus on customers in semi-urban and rural markets.
The proposed listing comes amid continued activity in India’s primary market, with several companies across sectors filing draft papers with SEBI to raise growth capital as investor interest in IPOs remains strong.
ALSO READ: India’s IPO Pipeline Remains Robust: Equirus’ New Report
