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Open
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Close
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Allotment
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Listing
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Issue Size
[.] shares (agg. up to ₹2,800 Cr)
Listing Date
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✦ AI Insight
Restated Financials (₹ Cr.)
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 7,605.66 | 6,421.59 | 4,086.28 | 2,642.47 |
| Total Income | 720.11 | 1,117.49 | 680.80 | 442.23 |
| Profit After Tax | 133.11 | 245.05 | 176.40 | 75.40 |
| NET Worth | 2,610.65 | 2,329.55 | 1,591.26 | 1,408.05 |
| Reserves and Surplus | 2,457.35 | 2,187.16 | 1,464.03 | 1,282.80 |
| Total Borrowing | 4,889.42 | 3,995.81 | 2,425.32 | 1,195.65 |
| Amount in ₹ Crore |
Peer Comparison
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Aye Finance Ltd. | Mainboard | ₹1,010.00 Cr | ₹129 | 14.11 | ₹128.91 | -0.07% | ₹177.22 (-6.38%) |
| Tata Capital Ltd. | Mainboard | ₹15,511.87 Cr | ₹326 | 35.99 | ₹330.50 | +1.38% | ₹347.35 (-0.93%) |
| Laxmi India Finance Ltd. | Mainboard | ₹254.26 Cr | ₹158 | 18.35 | ₹134.11 | -15.12% | ₹129.81 (+5.00%) |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting the capital base to meet future business requirements of the Company towards onward lending | |
| Total | 0.00 |
About Veritas Finance IPO
Incorporated in 2015, Veritas Finance Limited is a Non-banking financial company (NBFC”) registered with the Reserve Bank of India. As a diversified, retail-focused NBFC, the company primarily offers small business loans to MSMEs and self-employed individuals and has expanded to include home loans and used commercial vehicle loans. The company addresses the financial needs of underserved MSMEs and individuals by offering products like small business loans, housing loans, used commercial vehicle loans, and working capital loans to bridge the credit gap. The company sources lead for Rural Business and Working Capital Loans in-house while using direct selling agents for Affordable Home and Used Commercial Vehicle Loans, with 88.67% of loans sourced in-house. The company has a distribution network of 424 branches across 10 states and one union territory in India, with a strong presence in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and West Bengal. As of September 30, 2024, the company maintains relationships with 36 lenders and 11 debt security holders, including banks, mutual funds, NBFCs, and alternate investment funds. Business: They provide loans to the target borrowers for
Contact Details
Veritas Finance Ltd. AddressSKCL Central Square 1, South and North Wing,7th Floor, Unit # C28 - C35, CIPET Road, Thiru ViThiru Vi ka Industrial Estate,Chennai, Tamil Nadu, 600032+91 044 4615 001cs@veritasfin.inVisit Website