Veritas Finance Refiles IPO Papers With SEBI

Veritas Finance Ltd, a non-deposit taking NBFC, has refiled preliminary papers with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth ₹900 crore and an Offer for Sale (OFS) of up to 1.28 crore equity shares by existing shareholders.

The company had initially filed draft papers with SEBI in January 2025 to raise ₹2,800 crore through an IPO. However, the latest filing comes with a revised issue structure, which includes a reduced fresh issue size of ₹900 crore and an OFS of 12,827,093 equity shares.

The net proceeds from the fresh issue will be used to augment the company's capital base to meet future business requirements, including onward lending. Veritas Finance provides business loans to micro, small and medium enterprises (MSMEs) and self-employed individuals, and has also expanded into home loans, used commercial vehicle loans, and working capital loans.

As of March 31, 2026, the company's assets under management (AUM) stood at ₹9,134 crore, reflecting a CAGR of 26.33 per cent between FY24 and FY26. For FY26, the company reported a profit of ₹330.3 crore and disbursements of ₹4,579.5 crore. Veritas Finance operates 444 branches across 10 states and one Union Territory, with a strong presence in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and West Bengal.

The company may also undertake a pre-IPO placement of specified securities aggregating up to ₹180 crore. If completed, the size of the fresh issue will be reduced to the extent of funds raised through the pre-IPO placement. ICICI Securities, IIFL Capital Services, JM Financial, and SBI Capital Markets are the book-running lead managers to the issue.

The latest filing is a significant development for Veritas Finance, which is looking to expand its lending business. The company's decision to refile its IPO papers with SEBI is a positive step towards achieving its growth objectives.

The Indian NBFC sector has seen significant growth in recent years, driven by increasing demand for credit from MSMEs and individuals. Veritas Finance is well-positioned to capitalize on this trend, with its strong presence in key markets and diversified product offerings.

The proposed IPO is expected to provide a boost to the company's capital base, enabling it to meet its future business requirements and drive growth. With its experienced management team and robust business model, Veritas Finance is poised for long-term success.

In conclusion, Veritas Finance's decision to refile its IPO papers with SEBI is a significant development for the company and the Indian NBFC sector as a whole. The proposed IPO is expected to provide a boost to the company's capital base and drive growth, and investors will be closely watching the developments in the coming days.

The IPO market in India has seen a significant pickup in recent months, with several companies filing their draft papers with SEBI. The success of Veritas Finance's IPO will depend on various factors, including market conditions and investor sentiment. However, with its strong track record and growth prospects, the company is well-positioned to attract investor interest.

Overall, Veritas Finance's refiled IPO papers with SEBI mark an important milestone for the company, and investors will be eagerly awaiting the outcome of the proposed IPO.