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Let’s have a detailed review of the company and analytics of the Veefin Solutions IPO release date, IPO offer price, subscription, Veefin Solutions Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face Value Rs 10
Price Band Rs 82
Listing At BSE, NSE
Min. Order Quantity 1600 Shares
Listing Date 5 July 2023
Offer for Sale Rs 2,337 Lakh
Fresh Issue Rs 2,337 Lakh
IPO Size Rs 4,673 Lakh
Tick Size 1

Veefin Solutions IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.

Live Performance – Veefin Solutions Share Price

Veefin Solutions IPO – Summary

Veefin Solutions IPOTheir Company is a Digital Lending and Supply Chain Finance (SCF) technology product solutions company based in Mumbai. Supply Chain Finance is a financial tool that is used to help businesses manage their cash flow and improve their working capital.

They provide their product solutions to a wide range of clients globally, including Banks, Non-Banking Financial Institutions, FinTech, Marketplaces, and Corporates. Their technology product solutions are unique offerings, which are designed with a user-led approach, data and analytics, and built by experienced bankers for bankers.

The Promoter of this company is MR. RAJA DEBNATH AND MR. GAUTAM VIJAY UDANI. The lead manager of the issue is SHRENI SHARES LIMITED, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.

Veefin Solutions IPO Date

The opening and closing dates of Veefin Solutions IPO are 22 June 2023 and 26 June 2023 respectively.

Veefin Solutions IPO Subscription

Day / Date NII RII Total Subscription
1st Day – 22nd Jun 0.80x 0.20x 0.50x
2nd Day – 23rd Jun 1.48x 0.59x 1.05x
3rd Day – 26th Jun 3.26x 1.65x 2.46x
Shares Offered or Net Issue 2,705,600 2,705,600 5,699,200

The shares subscribed by the public will be updated here.

Veefin Solutions IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares are pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Veefin Solutions Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment Finalization 30 June 2023
Refunds Initiation 3 July 2023
Credit of Shares to Demat Account 4 July 2023
Share Listing Date 5 July 2023

Veefin Solutions IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs.82 

Veefin Solutions IPO Equity Size

This Initial Public Issue of 5,699,200 Equity Shares of Rs.10 each for cash at a price of Rs.82 per equity share aggregating to Rs.4,673 Lakh.

Veefin Solutions IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,849,600 Equity Shares of Rs.10/ each.

Issue Size: 5,699,200 Equity Shares of Rs.10 each, aggregating to Rs.4,673 Lakh

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    Veefin Solutions IPO – Live Performance

    The listing date of this IPO is 5 July 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Veefin Solutions Share Price

    Veefin Solutions IPO Grey Market Premium

    The Veefin Solutions Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X. 

    Veefin Solutions IPO – Company Overview

    Their cutting-edge technology products offer unmatched flexibility to their clients, facilitating quick and efficient configuration and implementation of their products.

    This empowers bankers and financial institutions to offer highly customised solutions to their clients, tailoring loan products both regular and transaction-based on their client’s unique requirements.

    They are committed to delivering innovative and best-in-class Digital Lending and Supply Chain Finance technology solutions for their clients. They work with financial institutions globally to help them grow their business with their scalable technology solutions.

    Their company offers a unique blend of technology, data analytics, and experienced bankers, making them the ideal partner for financial institutions looking to stay ahead of the curve.

    Veefin Solutions IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Lakh)
    31-Jan-23 Mar-22 31-Mar-21
    Total Assets 4739.90 1565.21 879.66
    *Total Revenue 1176.27 618.89 80.78
    Total Expense 740.89 570.09 69.86
    Profit After Tax 330.42 28.93 14.37

    Earnings per Equity Share (in Lakh)

    31-Jan-23 Mar-22 31-Mar-21
    Basic & Diluted 1.80 0.20 0.12

    Further, their PAT for the period ended on Jan 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 330.42 Lakh, Rs. 28.93 Lakh and Rs. 14.37 Lakh respectively.

    Veefin Solutions IPO – Promoters

    The Promoter of this company is:


    List of Related Parties (Key Managerial Personnel)

    • Raja Debnath, Chairman and Managing Director
    • Gautam Vijay Udani, Wholetime Director
    • Ajay Babu Rajendran, Non-Executive Non-Independent Director
    • Anand Nandkishore Malpani, Non-Executive Independent Director
    • Deepti Sharma, Non-Executive Independent Director

    Veefin Solutions IPO – Promoters Holding

    • Pre-Issue Share Holding – 56.26%
    • Post-Issue Share Holding – 39.84%

    Veefin Solutions IPO Offer Details or Issue Details

     Particulars  No. Of Equity Shares
     Equity Shares Offered  Up to 56,99,200 Equity Shares aggregating up to Rs.4,673.34 Lakh
    of which:
    Issue Reserved for the Market Makers Up to 2,88,000 Equity Shares aggregating up to Rs.236.16
    Net Issue to the Public Up to 54,11,200 Equity Shares aggregating up to Rs.4,437.18
    Of which:
    Retail Investors Portion Not less than 27,05,600 Equity Shares
    Other than Retail Individual Investors Not more than 27,05,600 Equity Shares
     Equity Shares outstanding prior to the Issue 1,83,37,860 Equity Shares
     Equity Shares outstanding after the Issue 2,11,87,460 Equity Shares

    Veefin Solutions IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. Global – sales and marketing expenditure;
    2. Developing new products or enhancement and maintenance, upgrading or updating existing products; and
    3. General corporate purposes

    Veefin Solutions IPO – Business Strategy

    • Entrenched Global Sales Network
    • End-to-End Stack for Supply Chain Finance
    • Implementation Timelines
    • Experienced promoters and management team
    • Established relationships with a customer base

    Veefin Solutions IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Domain knowledge in, and full spectrum coverage of, the BFSI Industry;
    • Entrenched Global Sales Network;
    • End to End Stack for Supply Chain Finance;
    • Implementation Timelines;
    • Pricing;
    • Deployment Agnostic;
    • Experienced promoters and management team; and
    • Established relationships with the customer base.

    The relevant quantitative factors are:

    Basic & Diluted EPS RONW (%) NAV (Rs.)
    31-Mar-23 1.80 7.80% 23.10
    31-Mar-22 0.20 3.26% 6.11
    Mar-21 0.12 13.76% 0.86

    Veefin Solutions IPO: Competitive Peers

    Face Value (Rs.) P/E EPS (Rs.) Return on Net Worth (%) Total Income (Rs. in Crores)
    Veefin Solutions Limited 10 [●] 1.80 7.80% 1176.27
    Listed Peers

    Veefin Solutions IPO Lead Managers

    Lead Managers
    Office No. 102, 1st Floor, Sea Lord CHS, Ram Nagar, Borivali (West), Mumbai –
    400 092, Maharashtra, India
    Telephone: 022 – 2808 8456
    E-mail: shrenishares@gmail.com
    Investors Grievance e-mail: info@shreni.in
    Website: www.shreni.in
    Contact Person: Mr Parth Shah/Ms. Kritika Rupda
    SEBI Registration Number: INM000012759

    Veefin Solutions IPO Registrar to offer

    Registrar to the Offer
    Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali
    Caves Road, Andheri East, Mumbai – 400 093, Maharashtra, India
    Telephone: 022 – 6263 8200
    E-mail: ipo@bigshareonline.com
    Investor grievance e-mail: investor@bigshareonline.com
    Website: www.bigshareonline.com
    Contact Person: Mr Babu Rapheal C
    SEBI Registration No.: INR000001385

    Veefin Solutions IPO – Other Details

    • Statutory Auditor – M/s Pankaj Lunker & Associates., Chartered Accountants
    • Legal Counsel to the Company – MV Kini, Law Firm
    • Bankers to the Company – Kotak Mahindra Bank Limited

    Veefin Solutions IPO Review by Stock Brokers

    Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
    Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
    Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
    Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
    ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
    IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
    Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
    Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
    5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
    Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
    Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10


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      Veefin Solutions Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download

      Veefin Solutions IPO Review FAQs

      Check out various FAQs related to Veefin Solutions IPO:

      What is the Issue Size of Veefin Solutions IPO?

      The Company is making an initial public offer of 5,699,200 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      What is the Price band of Veefin Solutions IPO?

      The price band for this particular IPO ranges between Rs 82. As far as the face value of the share is of concern, it is Rs. 10 per share.

      What is the Veefin Solutions IPO Open Date?

      The opening and closing dates for this IPO have been updated. The IPO is set to open on 22 June 2023, while the closing date is set for 26 June 2023.

      What is the Veefin Solutions IPO Allotment Date?

      They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 30 June 2023, refund initiation is on 3 July 2023, credit of shares is on 4 July 2023, and share listing date is on 5 July 2023.

      What is the Veefin Solutions IPO Listing Date?

      Shares of this company shall be listed in the exchanges on 5 July 2023. The date, when the listing would be done, is stagnant on 5 July 2023.

      Who is the Registrar of Veefin Solutions?

      One of the reputed registrars is managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.

      Who is the Promoter of Veefin Solutions?

      Here are the promoters of this IPO – MR. RAJA DEBNATH AND MR. GAUTAM VIJAY UDANI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      What is the GMP of Veefin Solutions?

      They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.

      Is Veefin Solutions Good for Investment?

      They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      What is the PAT of Veefin Solutions Company?

      They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 330.42, 2022 is 28.93, and 2021 is 14.37. 

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