Veefin Solutions Limited's Rs. 4673.34 lakh public issue opens for subscription from 22 June, 2023

Veefin provides this product to a wide range of clients globally, including Banks, Non-Banking Financial Institutions, FinTech, and Marketplaces.

The Supply Chain Finance Solutions segment is focused on providing Lenders with a technology solution that would allow them to lend to SMEs for their supply chain finance needs and manage the lenders supply chain finance business portfolio. Digital Lending Suite Solutions segment is designed to provide financial institutions with a comprehensive suite of solutions that help them improve their lending operations and deliver a better customer experience.

The financial performance of the company has exhibited remarkable progress demonstrating growth and stability. For FY 21-22 the company reported total revenue of Rs 655.19 lakhs and Net Profit of Rs 70.01 lakhs. For ten months ended January 2023 (10MFY23), the company reported revenues of Rs 1262.36 lakhs and Net Profit of Rs 350.02 lakhs. As on January 2023, Net worth of the company stands at Rs 4293.21 lakhs, Total Assets at Rs 4821.70 lakhs and Reserves & Surplus at Rs 2459.43 lakhs.

Return on Net Worth (RONW), a key measure of profitability, saw an improvement for ten months ended January 2023, with RONW reaching 8.15%. Net Asset Value (NAV) per share moved from Rs 6.36 per share in FY22 to Rs 23.41 per share in ten months ended January 2023. Return on Capital Employed (ROCE), a measure of efficiency in capital utilisation, was 11.32% in ten months ended January 2023.

IPO Highlights – Veefin Solutions Limited (formerly known as Veefin Solutions Private Limited)

Highlights:-

• Public issue opens for subscription from June 22 2023 and closes on June 26 2023
• Minimum lot size for application is 1,600 shares; Minimum IPO application amount Rs. 1,31,200/-
• Funds raised through the issue will be used for global sales and marketing expenditure, developing new products or enhancement and maintenance, upgrading or updating existing products and general corporate purposes
• For 10MFY23, company reported revenues of Rs 1,262.36 lakhs and Net Profit of Rs 350.02 lakhs
• Shreni Shares Pvt. Ltd. is the lead manager of the issue

(Above mentioned article is consumer connect initiative. This article is a paid publication and does not have journalistic/editorial involvement of IDPL, and IDPL claims no responsibility whatsoever)