Veefin Solutions Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Veefin Solutions

CMP

434.95

+3.20 (0.74%)

₹82

Offer Price

₹ 46.73 Cr

Issue Size

₹ 1,31,200

Min Investment

1,600

Lot size

Time Line

  • 22
    Jun 2023
    Open
  • 26
    Jun 2023
    Close
  • 30
    Jun 2023
    Finalisation of Basis of Allotment
  • 03
    Jul 2023
    Initiation of Refunds
  • 04
    Jul 2023
    Transfer of Shares to Demat Account
  • 05
    Jul 2023
    Listing Date

Objects of the Offer

  • Inbound.

  • Outbound.

  • Events.

  • Business Partnerships.

Strengths

  • 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.

Risks

  • Software Product development is a long, expensive and uncertain process and its current expenditure in product development may not provide a sufficient or timely return.

  • The Company, Promoters, Directors as well as its Group Companies are party to certain tax proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.

  • As one of its Directors, Mr. Ajay Babu Rajendran is Non-resident Indian (NRI) and one of its group companies, Chain Fintech Solutions Limited` (Bangladesh), as well as its two subsidiaries, Veefin Solutions Limited` (Bangladesh) and Veefin Solutions FZCO` (Dubai), are located outside of India, the company has obtained separate undertakings to ensure that they are not involved in any litigation.

  • The company Digital Lending and Supply Chain Finance technology product solutions may not be protected by all intellectual property laws.

  • The company revenues are dependent on clients concentrated in the BFSI segment. An economic slowdown or factors affecting this segment may have an adverse effect on its business, financial condition and results of operations.

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 6.55 (-) 14.08 (115.00%) 0.79 (-)
Gross Profit 6.55 (-) 14.08 (115.00%) 0.79 (-)
Net Income 6.55 (-) 14.08 (115.00%) 0.79 (-)
Assets 6.55 (-) 14.08 (115.00%) 0.79 (-)
Liabilities 6.55 (-) 14.08 (115.00%) 0.79 (-)

Book Running Managers

  • Shreni Shares Pvt Ltd

Registrar & Transfer Agent

Bigshare Services Pvt Ltd

Office No 56-2,
Pinnacle Busine.Park,
Mahakali Caves Road - Mumbai - 400093
Phone : 91-22-62638200 Fax: 91-22-63638299

Company Contact Information

# 601 602 & 603 Neelkanth,
Corporate IT Park Kirol Rd Vid,
Mumbai - 400086
Phone : +91 9004917712 Email : investors@veefin.com www.veefin.com

Offer Related Information

Initial public offering of 56,99,200 equity shares of face value of Rs. 10/- each ("Equity Shares") of Veefin Solutions Limited ("Veefin" or "The Company" or "The Issuer") for cash at a price of Rs. 82/- per equity share (including a premium of Rs. 72/- per equity share) ("Offer Price") aggregating to Rs. 46.73 crores comprising of fresh offer of 28,49,600 equity shares aggregating to Rs. 23.37 crores ("Fresh Offer") and an offer for sale of 28,49,600 equity shares by Raja Debnath, Gautam Vijay... More

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