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Veritas Finance Limited

Offer Period :

-

Veritas Finance Limited IPO Details

IPO Date - Minimum Investment ₹ / Lots
Listing Date Maximum Investment ₹ / Lots
Face Value ₹0 per share Total Issue Size ₹0 Crores
Price ₹0 to ₹0 per share Fresh Issue ₹0 Crores
Lot Size 1 Lots (0 Shares) Offer For Sale ₹ [-]
Listing At Retail Discount ₹ 0
Employee Discount ₹0 per Share Shareholding Pre Issue 131281209 Shares
Issue Type Shareholding Post Issue 0 Shares
IPO Date -
Listing Date
Face Value ₹0 per share
Price ₹0 to ₹0 per share
Lot Size 1 Lots (0 Shares)
Listing At
Total Issue Size ₹0 Crores
Employee Discount ₹0 per share
Issue Type
Minimum Investment ₹ / Lots
Maximum Investment ₹ / Lots
Fresh Issue ₹0 Crores
Offer For Sale ₹[-] Crores
Retail Discount ₹0 Crores
Shareholding Pre Issue 131281209 Shares
Shareholding Post Issue 0 Shares

About Veritas Finance Limited IPO

Founding Head:

Managing Director: Duraisamy Arulmany

Veritas Finance Limited Timeline

Important dates for allocation and IPO listing.

-

IPO Opens

-

IPO Close

-

Allotment Date

-

Initiation of Refund

-

Credit of Shares to Demat Account

-

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 0 0
Public Group 0 0

Veritas Finance Limited IPO Reservation

QIB Shares Offered 0(0%)
NII (HNI) Shares Offered 0(0%)
Retail Shares Offered 0(0%)
Anchor Investor Shares Offered 0(0%)
Total Shares Offered 0
Total Shares With Anchor Investor 0

Veritas Finance Limited IPO Lot Size

Application Lots Shares Amount
Retail (Min) [-] [-] ₹[-]
Retail (Max) [-] [-] ₹[-]
S HNI (Min) [-] [-] ₹[-]
S HNI (Max) [-] [-] ₹[-]
B HNI (MIN) [-] [-] ₹[-]

Veritas Finance Limited IPO Anchor Investor Details

Bid Date
Shares Offered
Anchor Portion Size

Veritas Finance Limited IPO Registrar

KFin Techologies Ltd
Phone Number +91 40 6716 2222/
Email Id einward.ris@kfintech.com
Our Website www.kfintech.com

Veritas Finance Limited IPO Lead Manager

1. ICICI Securities Ltd

2. HDFC Bank Ltd

3. Jefferies India Pvt Ltd

4. Kotak Mahindra Capital Company Ltd

5. Nuvama Wealth Management Ltd

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Veritas Finance Limited Financial Information

Period Ended March 31, 2023 March 31, 2022 March 31, 2021
Net Worth ₹1591.26 ₹1408.05 ₹888.02
Reserves and Surplus ₹1477.03 ₹1294.47 ₹787.84
Total Borrowing ₹2428.89 ₹1195.65 ₹1254.15

Veritas Finance Limited IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 0 0 0
Non Institutional Investors (NIIs) 0 0 0
NII(Bid amount of more than Ten Lakh Rupees) 0 0 0
NII(Bid amount of more than 2 Lakh < 10 Rupees) 0 0 0
Retail Individual Investors (RIIs) 0 0 0
Total 0 0 0

Strength of Veritas Finance Limited

1. We have a diversified, granular and self- residential property backed secured portfolio with the fastest growth in terms of AUM among compared listed peers.

2. We have widespread, deep and largely in-house distribution network serving unserved and under-served borrowers in rural and semi-urban markets giving us the ability to launch multiple new businesses using existing distribution footprint.

3. We possess a robust risk management and credit assessment framework supported by on-ground collections infrastructure.

4. Ours is a technology-enabled scalable operating model resulting in short turnaround and improved controls on sourcing, disbursement and collections.

5. We have access to diversified and cost-effective sources of funding backed by a broad lender base.

6. We have an experienced Senior Management team backed by marquee investors and guided by a distinguished Board.

Risks Involved

1. Our business involves exposure to high credit risk, first-time borrowers in under-served households and businesses in India (with such loans constituting 24.72% of our Loans (AUM) as of September 30, 2024). These borrowers may be adversely affected by economic and other factors that affect their income-earning capacity. Such factors could lead to increased customer defaults which could adversely affect our business, financial condition, results of operations and cash flows.

2. Non-payment or defaults by our borrowers may lead to increased levels of Gross Carrying Amount - Loans - Stage 3 (which aggregated to Rs. 1,267.61 million, Rs. 1,025.97 million, Rs. 772.92 million and Rs. 861.43 million as of September 30, 2024, March 31, 2024, March 31, 2023 and March 31, 2022, respectively) and related provisioning and write-offs on our balance sheet, which could adversely affect our business, financial condition, results of operations and cash flows.

3. We require substantial funds for our business (our total borrowings as of September 30, 2024 were Rs. 48,894.18 million) and any disruption in our sources of funds could adversely affect our business, financial condition, results of operations and cash flows.

4. We are affected by volatility in interest rates for both our lending and treasury operations, which could cause our net interest income and net interest margin to vary and adversely affect our business, financial condition, results of operations and cash flows.

5. Our Working Capital loans (constituting 8.83% of our Loans (AUM) as of September 30, 2024) are unsecured and are susceptible to credit risks which may result in increased levels of Gross Carrying Amount - Loans - Stage 3, which could adversely affect our business, financial condition, results of operations and cash flows.

6. We depend on the accuracy and completeness of information submitted by our borrowers. Any misrepresentation, fraud, errors in or incompleteness of such information could adversely affect the quality of our credit assessment and adversely affect our asset quality, business, financial condition, results of operations and cash flows.

7. We have recently expanded into affordable home loans and used commercial vehicle loans as new lines of business and if we are unable to grow these new businesses successfully or develop new businesses to address changing borrower needs, our business, reputation, financial condition, results of operations and cash flows may be adversely affected.

8. An inability to recover outstanding amounts due under defaulted loans within our secured loan portfolio (aggregating to 91.17% of our Loans (AUM) as of September 30, 2024) from the sale of collateral, in a timely manner or at all, could adversely affect our business, financial condition, results of operations and cash flows.

9. An inability to meet our obligations, including financial and other covenants under our financing arrangements, could adversely affect our business, results of operations and cash flows.

10. We operate in a highly regulated industry and changes in the applicable regulatory environment or our inability to comply with applicable regulations may adversely affect our business, financial condition, results of operations and cash flows.

Why should you invest in

-

Veritas Finance Limited Financials

Particulars For the financial year ending (in ₹ million)
 
Total Assets
Total Liabilities
Total Expenses
Total Revenue 
Profit After Tax
EBITDA
Adjusted EBITDA

Veritas Finance Limited IPO Contact Details

Veritas Finance Limited IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
0 -
INE448U01011
₹0 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹0 ₹0
Open ₹0 ₹0
Low ₹0 ₹0
High ₹0 ₹0
Low ₹0 ₹0

Frequently Asked Questions

What is Veritas Finance Limited IPO?

Answer Field

Veritas Finance Limited IPO is a IPO of [-] equity shares of a face value of ₹[-] aggregating up to ₹[-] Crores. The issue is priced at ₹[-] to ₹[-] per share. The minimum order quantity is [-] Shares. The IPO opens on [-], and closes on [-]. KFin Techologies Ltd is the registrar for the IPO. The shares are proposed to be listed on .

When Veritas Finance Limited IPO will open?

Answer Field

The Veritas Finance Limited IPO opens on [-] and closes on [-].

What is the lot size of Veritas Finance Limited?

Answer Field

Veritas Finance Limited lot size is [-] shares, and the minimum amount required is ₹[-].

How to apply for Veritas Finance Limited IPO?

Answer Field

You can apply in Veritas Finance Limited IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Veritas Finance Limited IPO allotment?

Answer Field

The finalization of Basis of Allotment for Veritas Finance Limited IPO will be done on [-], and the allotted shares will be credited to your demat account by [-].

When is Veritas Finance Limited IPO listing date?

Answer Field

The Veritas Finance Limited listing date is [-].

Who is the registrar of Veritas Finance Limited IPO?

Answer Field

The registrar of Veritas Finance Limited IPO is KFin Techologies Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

ICICI Securities Ltd,HDFC Bank Ltd,Jefferies India Pvt Ltd,Kotak Mahindra Capital Company Ltd,Nuvama Wealth Management Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Veritas Finance Limited IPO?

Answer Field

The fresh issue size is ₹[-] Crores equity shares.

What minimum lot size can retail subscribers subscribe to Veritas Finance Limited?

Answer Field

Retail investors can subscribe to a minimum of one lot, [-] shares and ₹[-] amount.

How can I approve the UPI mandate request for Veritas Finance Limited IPO?

Answer Field

To apply for Veritas Finance Limited IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Veritas Finance Limited?

Answer Field

The price of each Veritas Finance Limited share will be ranging in between ₹[-] to ₹[-] per share.

What is the cut-off time for the UPI mandate for Veritas Finance Limited IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, [-].

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