Veefin Solutions Limited IPO is set to launch on 22 June, 2023. The company initiated its business operations in the year 2020. The company is into the business of Digital lending and Supply Chain Finance. It has 2 main business segments. Digital Lending Suite Solutions and Supply Chain Finance Technology Solutions.
The company’s aim is to operate the supply chain financing problems to manage the cash flow of the companies in a more effective manner. Veefin’s client list includes Banks and Non-Banking Financial Institutions, Marketplaces, Fin-Tech, and Corporates such as IndusInd Bank, Yes Bank, Citi Bank, Indian Bank, Riyad Bank, BRAC, Aditya Birla Capital, VP Bank, Ambit Finvest, Mintifi etc.
Veefin Solutions Limited IPO DETAILS
Veefin Solutions Limited IPO is set to launch on 22 June, 2023. The subscription timeline extends till 26 June, 2023. The size for the IPO is 46.73 Crore Rs. Shares issued through fresh issue mode are worth 23.37Crore Rs. Shares issued through offer for sale mode are worth Rs 23.37 Crore Rs. The lot size is 1600 shares and the price is 82 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Fixed Price issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of Veefin Solutions Limited IPO
IPO OPENING DATE | 22 June, 2023 |
CLOSING DATE FOR IPO | 26 June, 2023 |
ISSUE TYPE | Fixed Price Issue |
Face Value per share | 10 Rs. per share |
IPO price band | 82 Rs per share |
LOT SIZE | 1600 shares |
MINIMUM ORDER QUANTITY | 1600 shares |
ISSUE SIZE | 46.73 Crore Rs. |
OFFER FOR SALE | 23.37 Crore Rs. |
FRESH ISSUE | 23.37 Crore Rs. |
LISTING AT | BSE SME |
LISTING DATE | 5 July, 2023 |
Veefin Solutions Limited IPO : IMPORTANT DATES
IPO OPENING DATE | 22 June, 2023 |
CLOSING DATE FOR IPO | 26 June, 2023 |
IPO ALLOTMENT DATE | 30 June, 2023 |
REFUNDS | 3 July, 2023 |
DEMAT A/C CREDITED ON | 4 July, 2023 |
IPO LISTING DATE | 5 July, 2023 |
Veefin Solutions Limited IPO begins for subscription from 22 June, 2023. The IPO subscription would continue till 26 June, 2023. The allotment status for the shareholders who applied would come on 30 June, 2023. The refunds for the ones who did not get allotment would be initiated on 3 July, 2023. The DEMAT accounts of shareholders would be credited on 4 July, 2023. The listing of the company would be completed on 5 July, 2023.
Veefin Solutions Limited IPO : Lead Managers
The lead managers are :
- Shreni Shares Private Limited
The minimum lot size for the company is decided at 1200 shares. This holding accounts to 131200 Rs.. The maximum lot size is decided at 2400 shares (HNI). This amounts to 262400 Rs.. Hence the company’s final holdings would be set as :
Shares | Amount | |
Minimum | 1200 shares | 131200 Rs. |
Maximum | 2400 shares | 262400 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for expanding its global sales and marketing expenses, developing new products and updating the existing product line.
COMPANY FINANCIALS
Particularly (in Lakh Rs.) | March 2022 | March 2023 | |
ASSETS | 1607 | 4812 | |
Revenue | 655 | 1262 | |
PAT | 70 | 350 |
Veefin Solutions Limited had an asset base of 1607 Lakh Rs in 2022 and this increased to 4812 Lakh Rs in 2023. The revenue of the firm was 655 Lakh Rs in 2022. The March 2023 revenue was 1262 Lakh Rs. The company earned a profit of Rs 70 Lakh Rs in 2022 and this increased to 350 Lakh Rs in 2023. The financials of the company increased consistently in all the parameters.
PROS
- Veefin Solutions Limited has 2 main business segments. Digital Lending Suite Solutions and Supply Chain Finance Technology Solutions.
- The company’s aim is to operate the supply chain financing problems to manage the cash flow of the companies in a more effective manner. Veefin’s client list includes Banks and Non-Banking Financial Institutions, Marketplaces, Fin-Tech, and Corporates such as IndusInd Bank, Yes Bank, Citi Bank, Indian Bank, Riyad Bank, BRAC, Aditya Birla Capital, VP Bank, Ambit Finvest, Mintifi etc.
CONS
- The company works into a very competitive segment.
Veefin Solutions Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Veefin Solutions Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.