VEEFIN SOLUTIONS LTD. (BSE SME)
June 22, 2023 – June 26, 2023
| Price | ₹82 - ₹82 |
| Premium | ₹3 |
|---|---|
| Lot size | 1600 |
| Allotment | Jul 1, 2023 |
| Listing | Jul 5, 2023 |
Veefin Solutions Limited
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/
| Investor Category | Subscription (times) |
|---|---|
| Non-Institutional Buyers** | 3.26 |
| Retail Investors | 1.65 |
| Total | 2.46 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1600 | 131200 | 0 |
| HNI | 2 | 3200 | 262400 | 0 |
Incorporated in 2020, Veefin Solutions Limited is a Digital Lending and Supply Chain Finance (SCF) technology product solutions company based in Mumbai.
Veefin Solutions has two main segments:
- Supply Chain Finance Technology Solutions; and
- Digital Lending Suite Solutions
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.
The Digital Lending Suite Solutions segment is designed to provide financial institutions with a comprehensive suite of solutions that help them improve their lending operations and deliver a better customer experience.
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
| 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 |
| Market Maker portion | 288,000 shares Shreni Shares |
Veefin Solutions IPO Reservation
| Retail Shares Offered | Not less than 50.00% of the Offer |
Company Financials
| Period Ended | 31-Mar-22 | 31-Jan-23 |
|---|---|---|
| Total Assets | 1,607.93 | 4,821.70 |
| Total Revenue | 655.19 | 1,262.36 |
| Profit After Tax | 70.01 | 350.02 |
| Net Worth | 925.10 | 4,293.21 |
| Reserves and Surplus | 923.86 | 2,459.43 |
| Total Borrowing | 346.32 | 50.81 |