The company is aiming to secure approval from SEBI (Securities and Exchange Board of India) in November to launch a significant IPO. The 3000 crore IPO would be an Offer for Sale (OFS) by shareholders looking to exit their positions. It has received backing from investors such as Multiples PE, Kedaara Capital, and Norwest Venture Partners. According to sources, the Offer for Sale side will be larger due to high demand from investors.
For the IPO process, Veritas is collaborating with investment banks such as HDFC Bank, Kotak Mahindra Capital, Jefferies, and ICICI Securities.
About this company
Veritas Finance Ltd began its operations in 2015 with a focus on meeting the financial needs of micro, small, and medium enterprises (MSMEs) in India. The company offers tailor-made financial products to cater to short-term working capital requirements, medium-term business loan needs, and long-term housing construction needs. Veritas Finance Ltd has a gross income of ₹1,124 crore, with a profit after tax (before other comprehensive income) amounting to ₹245 crore. Enhanced credit – Exceptional liquidity – Robust profitability. These are the strengths of this company.
