Veefin Solutions IPO Details ( Veefin Solutions Limited IPO Review )
(22 Jun 2023 – 26 Jun 2023)
Veefin Solutions Limited, established in 2020, is a Mumbai-based company specializing in digital lending and supply chain finance (SCF) technology product solutions.
Veefin Solutions operates through two primary segments:
- Supply Chain Finance Technology Solutions: This segment focuses on delivering technology-enabled financing solutions to streamline supply chain finance processes and enhance cash flow management for businesses.
- Digital Lending Suite Solutions: Designed for financial institutions, this segment offers a comprehensive suite of solutions to improve lending operations and provide a superior customer experience.
Veefin Solutions boasts an impressive client portfolio comprising banks, non-banking financial institutions, fintech companies, marketplaces, and corporates. Notable clients include Yes Bank, IndusInd Bank, Indian Bank, Citi Bank, BRAC, VP Bank, Riyadh Bank, Aditya Birla Capital, Mintifi, Ambit Finvest, and others.
The company has received recognition for its innovative solutions, earning the “Most Innovative Supply Chain Finance Solution” award at the Fintech India Summit & Awards in 2022, as well as the “Solution of the Year 2021; SCF” award at the Inflection Web Conference presented by Alden Global, CSCMP, SIMM & NASSCOM.
Veefin Solutions Limited IPO Competitive Strength
- 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
- Established relationships with customer base
Veefin Solutions IPO Financials Performance ( Results )
Veefin Solutions Limited Financial Information ( Restated Consolidated )
All Amount in ₹ Lakhs
| Period Ended | Total Assets | Total Revenue | PAT | Net Worth | NAV (₹) | Reserves | Borrowing |
| 31-Mar-22 | 1,607.93 | 655.19 | 70.01 | 925.10 | 6.36 | 923.86 | 346.32 |
| 31-Jan-23 | 4,821.70 | 1,262.36 | 350.02 | 4,293.21 | 23.41 | 2,459.43 | 50.81 |
Objective of IPO Issue
- Global sales and marketing expenditure
- Developing new products or enhancement and maintenance, upgrading or updating existing products
- General Corporate Purpose
Veefin Solutions IPO Basic Details
| IPO Date | Jun 22, 2023 to Jun 26, 2023 |
| Listing Date | Wednesday, July 05, 2023 |
| Face Value | ₹10 per share |
| Price | ₹82 per share |
| Lot Size | 1600 Shares |
| 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 |
| Company Promoters | Mr. Raja Debnath And Mr. Gautam Vijay Udani |
Veefin Solutions IPO Reservation
| Other Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
Veefin Solutions IPO Timetable
Veefin Solutions IPO will open on June 22, 2023 and close on June 26, 2023. You can join Veefin Solutions IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 22 June 2023 (Thursday) |
| Closing Date | 26 June 2023 (Monday) |
| Basis of Allotment | 30 June 2023 (Friday) |
| Initiation of Refunds | 3 July 2023 (Monday) |
| Credit of Shares to Demat | 4 July 2023 (Tuesday) |
| Listing Date | 5 July 2023 (Wednesday) |
| Deadline for UPI mandate confirmation | 5 PM on Jun 26, 2023 |
Veefin IPO Lot Size
For retail investors in Veefin Solutions IPO, 1600 shares will come in 1 lot or the minimum investment will be ₹131,200. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹131,200.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | ₹131,200 |
| Retail (Max) | 1 | 1600 | ₹131,200 |
| S-HNI (Min) | 2 | 3200 | ₹262,400 |
Veefin Solutions IPO Promoter Holding
| Pre Issue Share Holding | 56.26% |
| Post Issue Share Holding | 39.84% |
Veefin Solutions IPO Valuation – FY2022
| Earning Per Share (EPS) | ₹0.48 per Equity Share |
| Price/Earning P/E Ratio | 248.48 |
| Return on Net Worth (RoNW) | 7.57% |
| Net Asset Value (NAV) | ₹23.41 per Equity Share |
| Upper Price/Book Value (Price/BV) Ratio | 3.50 |
Veefin Solutions Ltd Key Performance Indicator
| KPI | Values |
| Market Cap (₹ Cr.) | Coming Soon |
| P/E (x) | 248.48 |
| ROE (%) | 13.60% |
| ROCE (%) | 11.24% |
| Debt/Equity | 0.37 |
Veefin Solutions Ltd Peer Comparison
There are no listed companies in India and abroad that is engaged in developing a similar line of product solution to that of our Company. Accordingly, it is not possible to provide a comparison of accounting ratios of industry with our Company.
Veefin Solutions IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 3 July 2023 | ₹1 | – | – |
| 2 July 2023 | ₹1 | – | – |
| 1 July 2023 | ₹1 | – | – |
| 30 June 2023 | ₹-1 | – | – |
| 29 June 2023 | ₹-1 | – | – |
| 28 June 2023 | ₹-1 | – | – |
| 27 June 2023 | ₹-1 | – | – |
| 26 June 2023 | ₹0 | – | – |
| 25 June 2023 | ₹0 | – | – |
| 24 June 2023 | ₹0 | – | – |
| 23 June 2023 | ₹0 | – | – |
| 22 June 2023 | ₹-1 | – | – |
| 21 June 2023 | ₹0 | – | – |
Veefin Solutions IPO Detail Video:
Veefin Solutions IPO Subscription Status (Bidding Detail)
The Veefin Solutions IPO on June 27, 2023 at 7:02:00 PM was subscribed 2.46 times, with the retail category being subscribed 1.65 times, the other category being subscribed 3.26 times.
| Category | Subscription |
| Other | 3.26x |
| Retail | 1.65x |
| Total | 2.46x |
Veefin Solutions IPO Prospectus
Veefin Solutions IPO Rating
| Our Rating | 2.0/5.0 |
Veefin Solutions Company Contact Information
Veefin Solutions Limited
Registered Office: Off No-601, 602 & 603, Neelkanth Corporate IT Park,
Kirol Road, Vidhyavihar (West), Mumbai – 400 086, Maharashtra, India
Tel: +91 9004917712
E-mail: investors@veefin.com
Website: www.veefin.com
Contact Person: Ms. Sarita Vijay Mahajan, Company Secretary and Compliance Officer
Our Promoters: Mr. Raja Debnath And Mr. Gautam Vijay Udani
Veefin Solutions IPO Registrar
Bigshare Services Private Limited
Registered Office: Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093,
Maharashtra, India
Telephone: 022 – 6263 8200
E-mail: ipo@bigshareonline.com
Investor grievance e-mail: investor@bigshareonline.com
Website: www.bigshareonline.com
Contact Person: Mr. Babu Rapheal C
SEBI Registration No.: INR000001385
Veefin Solutions IPO Lead Manager
Shreni Shares Private Limited
Registered Office: Office No. 102, 1st Floor, Sea Lord CHS, Ram Nagar,
Borivali (West), Mumbai – 400 092, Maharashtra, India
Telephone: 022 – 2808 8456
E-mail: shrenishares@gmail.com
Investors Grievance e-mail: info@shreni.in
Website: www.shreni.in
Contact Person: Mr. Parth Shah/Ms. Kritika Rupda
SEBI Registration Number: INM000012759
Veefin Solutions IPO FAQs
What is the lot size of Veefin Solutions IPO?
The total size of Veefin Solutions IPO is ₹46.73 crores out of which ₹23.37 crores is fresh issue and ₹23.37 crores is offer for sale (OFS).
When will Veefin Solutions IPO start?
Veefin Solutions IPO will Open from 22 June 2023 and IPO will Close on 26 June 2023.
What is the open date of Veefin Solutions IPO?
Veefin Solutions IPO will open date from 22 June 2023.
What is the last date ( close date ) of Veefin Solutions IPO?
Veefin Solutions IPO will close from 26 June 2023.
What is the price band of Veefin Solutions IPO?
Veefin Solutions IPO price band is ₹82.
What is the minimum amount required to apply for Veefin Solutions IPO?
The minimum investment for retailers to apply for Veefin Solutions IPO is ₹131,200 and the maximum investment is ₹131,200.
What is going on gray market premium of Veefin Solutions IPO?
View gray market premium of Veefin Solutions IPO by Clicking Here
How much is the GMP of Veefin Solutions IPO?
Watch Veefin Solutions IPO GMP Today: Click Here
What is the allotment date of Veefin Solutions IPO?
The allotment date of Veefin Solutions IPO is 30 June 2023.
How to check allotment status in Veefin Solutions IPO?
To check the allotment status of Veefin Solutions IPO, first of all go to the registrar website by clicking here, select your bad Veefin Solutions IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Veefin Solutions IPO?
The Listing Date of Veefin Solutions IPO is 05 July 2023.
How much will be the listing gain in Veefin Solutions IPO?
View listing gain of Veefin Solutions IPO by Clicking Here
How much time Veefin Solutions IPO is subscribed?
Total 2.46 times subscribed in Veefin Solutions IPO out of which 1.65 times subscription was done in retail quota, 3.26 times subscription in other quota.
How to apply for Veefin Solutions IPO from Upstox?
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