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Banking and Finance
Sub Sector: Primarily provide small business loans to micro, small and medium enterprises
Established in 2015, Veritas Finance Limited is a non-deposit taking non-banking financial company (“NBFC”) registered with the Reserve Bank of India (“RBI”), and under the scale-based regulations of the RBI, are classified as an ‘NBFC-Middle Layer’. As a diversified, retail-focused NBFC, they primarily provide small business loans to micro, small and medium enterprises (“MSMEs”) and self-employed individuals, and over the years, have expanded their business to include home loans and used commercial vehicle loans. As of September 30, 2024, their Loans (AUM) aggregated to ₹65,172.17 million. According to CRISIL MI&A, they are the fastest-growing NBFC in terms of Loans (AUM) growth among compared peers for the period between the Financial Years 2022 to 2024, with a compounded annual growth rate (“CAGR”) of 61.76%. As of Financial Year 2024, the estimated MSME credit demand in India was approximately ₹138 trillion, with only 25% of this demand being met through formal financing channels (Source: CRISIL MI&A Report). Moreover, according to the CRISIL MI&A Report, during Financial Year 2024, the total addressable credit demand was ₹67.5 trillion, while current formal financing amounted to ₹35 trillion, leaving a potentially addressable MSME credit gap of ₹32.5 trillion to be fulfilled by financial institutions. The MSME credit market has demonstrated strong growth, with credit outstanding rising at a CAGR of 15.8% from Financial Year 2019 to Financial Year 2024 and is expected to grow at a CAGR of 17-19% from Financial Years 2024 to 2027 (Source: CRISIL MI&A Report). The housing finance market has alsodemonstrated strong growth, with credit outstanding rising at a CAGR of 13.6% from Financial Year 2019 to Financial Year 2024 and is expected to grow at a CAGR of 13-15% from Financial Years 2024 to 2027 (Source: CRISIL MI&A Report).They focus on addressing the financial needs of underserved and underbanked MSMEs and individuals by providing access to credit. To address the significant credit gap in these sectors, they offer a range of products, including small business loans, housingloans, used commercial vehicle loans, and working capital loans.
KFin Technologies Limited
Veritas Finance operates in Banking and Finance and Primarily provide small business loans to micro, small and medium enterprises. The Issue would be listed on MainBoard. The registrar of the Issue is KFin Technologies Limited. The IPO type of Veritas Finance is Book Building Process and Object of issue is
Merchant Banker of Veritas Finance IPO is Hdfc Bank Limited , ICICI Securities Limited , Jefferies India Private Limited , Kotak Mahindra Capital Company Limited , Nuvama Wealth Management Limited
The DRHP (Draft Red Herring Prospectus) of Veritas Finance IPO was filed on 18 Jan 2025.
No, Veritas Finance IPO is not yet listed. See other upcoming MainBoard IPOs here.
The IPO open date and IPO close date of Veritas Finance are not available now. You can apply in Veritas Finance IPO online using either UPI or ASBA as a payment method. ASBA IPO application can be done through net banking of your bank account. UPI IPO application is also offered by brokers, though they don't handle any banking services.
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