Veritas Finance, a non-banking financial company (NBFC) focused on retail finance, has got the green signal for IPO from the Securities Exchange Board of India (SEBI). The company wants to raise Rs 2,800 crore from this IPO. The public offering includes a new issue of equity shares worth Rs 600 crore and an offer for sale (OFS) of equity shares worth up to Rs 2,200 crore, of which the face value of each equity share is Rs 10. The IPO also includes reservation of shares for eligible employees. What will the company use the funds raised from the IPO? The funds raised from the IPO will be used to increase the capital base of the company. Apart from this, the company will also use the funds to meet business related needs and lending facilities. What does Veritas Finance, established in 2015, do? Established in 2015, Veritas Finance serves the financial needs of micro, small and medium enterprises (MSMEs) and self-employed individuals. The company provides a range of financial products including small business loans, home loans and used commercial vehicle loans. ICICI Securities-HDFC Bank selected as lead manager Veritas Finance is classified as ‘NBFC-middle layer’ by the Reserve Bank of India (RBI). ICICI Securities, HDFC Bank, Jefferies India, Kotak Mahindra Capital Company and Nuvama Wealth Management have been selected as lead managers for the IPO. KFin Technologies is the registrar for the issue. Apart from this, the company will soon announce the open date, close date, allotment details and listing timeline of the IPO. Veritas has a CAGR of 61.76% from 2022 to 2024 According to the Crisil MIA report, Veritas has a compound annual growth rate (CAGR) of 61.76% from FY 2022 to 2024. With this, Veritas is recognized as the fastest growing NBFC in its category. The company’s total income increased by 39.5% in FY 2025 Veritas Finance announced its audited financial results for FY 2025, in which its total income increased by 39.5% to Rs 1,550.67 crore. At the same time, the net profit of the company increased by 20.47% to Rs 295.11 crore. The net worth of the company grew by 19.47% to Rs 2,783.17 crore for the reported year.
