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.
| Purpose | Amount (₹ Cr) |
|---|---|
| Global – sales and marketing expenditure | ₹5 |
| Developing new products or enhancement and maintenance, upgrading or updating existing products; and | ₹16 |
| General corporate purposes | ₹3 |
| Metric | 31-Jan-23 | 31-Mar-22 | |
|---|---|---|---|
| Total Assets | 4,822 | 1,608 | — |
| Revenue | 1,262 | 655 | — |
| PAT | 350 | 70 | — |
| Net Worth | 4,293 | 925 | — |
| Reserves | 2,459 | 924 | — |
| Total Borrowing | 51 | 346 | — |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 2,705,600 (47%) | — |
| Retail (RII) | — | 2,705,600 (47%) | — |
| Market Maker | — | 288,000 (5%) | — |
| Total | — | 5,699,200 (100%) | — |
* Amount calculated at upper price band (₹82) · ** Total includes all investor categories
- 1 Initiation of Refund 03 Jul 2023
- 2 Credit of Shares to Demat 04 Jul 2023
- Retail allocation is strong at 47% of the total offering.
- HNI/NII demand is strong at 47%.
- The IPO P/E of 41x reflects a weak valuation relative to typical market ranges.
- Pre-issue EPS of ₹0.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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