Veefin Solutions IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jun 30, 2023Let’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
Their 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
Open Free Demat Account Now!
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:
- MR. RAJA DEBNATH
- MR. GAUTAM VIJAY UDANI
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 Lakh |
| Net Issue to the Public | Up to 54,11,200 Equity Shares aggregating up to Rs.4,437.18 Lakh |
| 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:
- Global – sales and marketing expenditure;
- Developing new products or enhancement and maintenance, upgrading or updating existing products; and
- 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 | |||||
| NA | – | – | – | – | – |
Veefin Solutions IPO Lead Managers
| Lead Managers |
| SHRENI SHARES LIMITED (FORMERLY KNOWN AS SHRENI SHARES PRIVATE LIMITED) 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 |
| BIGSHARE SERVICES PRIVATE LIMITED 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 |
Subscribe to Veefin Solutions IPO
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.
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Featured Topics