Veefin Solutions, a Mumbai-based company, was incorporated on October 14, 2020. It specializes in providing digital lending and supply chain finance technology product solutions. Supply chain finance is a financial tool that aids businesses in effectively managing their cash flow and enhancing their working capital.
| Bidding Dates |
|---|
| 22 Jun 2023 - 26 Jun 2023 |
| Subscription |
|---|
| 2.39x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,31,200 | 1 | 1 | 1600 | 5.7 M | ₹82 | 73.1 % | ₹467.3 M | RHP DOC |
Veefin Solutions IPO SUBSCRIPTION STATUS
26 Jun '23Veefin Solutions IPO overall subscription rate was 2.39 times the total available shares
Veefin Solutions IPO retail subscription rate was 1.57 times in the retail segment
Veefin Solutions IPO non-institutional investor subscription rate was 3.21 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
26 Jun 2023 (Day 3) | 1.57x | 3.21x | - |
23 Jun 2023 (Day 2) | 0.56x | 1.53x | - |
22 Jun 2023 (Day 1) | 0.19x | 0.86x | - |
Veefin Solutions FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 10MFY23 | 35.0 | 121.4 | -17.6 | -230.5 | 40.0% |
| FY22 | 7.0 | 65.5 | 9.0 | -51.7 | 15.9% |
Veefin Solutions IPO SUBSCRIPTION STATUS DETAILS
Veefin Solutions had 5.7 M shares on offer
Veefin Solutions IPO offer price was ₹82
Veefin Solutions IPO minimum Investment was ₹131200
Veefin Solutions IPO issue size was ₹ 467.3 M
Veefin Solutions had a minimum lot size of 1600 Shares per application
Veefin Solutions NUMBER OF SHARES ON OFFER
Veefin Solutions IPO IMPORTANT DATES
| Issue Open Date | 22 Jun 2023 |
| Issue close Date | 26 Jun 2023 |
| Allotment Date | 30 Jun 2023 |
| Refund Date | 03 Jul 2023 |
| Demat Account Credit Date | 04 Jul 2023 |
| Listing Date | 05 Jul 2023 |
| Listing on Exchange(s) | BSE |
| Veefin Solutions Allotment Status | Exchange |
Veefin Solutions IPO subscription opened on 22 Jun 2023, and closed on 26 Jun 2023
IPO allotment for Veefin Solutions was finalized on Friday, 30 Jun 2023
IPO listing for Veefin Solutions was on BSE on Wednesday, 05 Jul 2023
Veefin Solutions IPO LISTING GAINS
| Issue Price (adjusted) | 82.0 |
| Listing Open Price | 86.0 |
| Listing Close Price | 90.2 |
| Listing Gain% | 4.9% |
| Current Gain% | 250.0% |
Veefin Solutions Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Veefin Solutions Ltd. | 287 | 608.1 | 32.2 | 0.8 | 1.7 | 3.8 | 2.3 | 352.3 | 337.9 | 22.8 | 70.2 | 8.9 | 41.2 |
| Tata Technologies Ltd. | 865.2 | 35131.6 | 63.1 | -3.4 | 5.9 | 13.9 | 6.1 | 5680.1 | 7.3 | 546.6 | -19.3 | 13.7 | -18.7 |
| RateGain Travel Technologies Ltd. | 908.8 | 10766.5 | 44.4 | 2.9 | 4.6 | 9.7 | 5.5 | 1884.9 | 63.5 | 194.4 | -7 | 20.5 | 15.1 |
| Intellect Design Arena Ltd. | 723.6 | 10150.4 | 28.8 | 465.3 | 3.2 | 10.9 | 7.5 | 3160.8 | 22.7 | 345.4 | 3.8 | 25.2 | 0.1 |
| Capillary Technologies India Ltd. | 523 | 4162.1 | 98.9 | 5.1 | 5.1 | 4 | 748.3 | 22.3 | 52.4 | 294.5 | 5.3 | ||
| Aurionpro Solutions Ltd. | 727.2 | 4018.4 | 19.7 | 3.9 | 2.8 | 12 | 9 | 1440.4 | 20.7 | 209.3 | 12.4 | 36.9 | 5.1 |
Veefin Solutions INFORMATION ON IPO ISSUE
About Veefin Solutions
Veefin Solutions, a Mumbai-based company, was incorporated on October 14, 2020. It specializes in providing digital lending and supply chain finance technology product solutions. Supply chain finance is a financial tool that aids businesses in effectively managing their cash flow and enhancing their working capital.
Object of the Issue
- Global sales and marketing expenditure
- Developing new products or enhancement and maintenance, upgrading or updating existing products
- General corporate purpose
Veefin Solutions - PROMOTERS
| Name |
|---|
| Raja Debnath |
| Gautam Vijay Udani |
Veefin Solutions Lead Manager of the Issue
Sherni Shares Private Limited
shrenishares@gmail.com
Veefin Solutions Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Veefin Solutions Strengths
Domain knowledge and full spectrum coverage
The company has deep knowledge and experience in the banking, financial services, and insurance sector. They have developed and implemented a range of successful digital product suites, including cutting-edge digital transaction banking, digital lending, and a comprehensive omni-channel onboarding platform
Entrenched global sales network
The company has a strong global sales network due to its strategic collaborations across different segments
End-to-end stack for supply chain finance
The company provides a comprehensive end-to-end technology stack that covers all aspects of the supply chain finance landscape
Veefin Solutions Risks
Party to certain tax proceedings
The company, along with its promoters, directors, and group companies, is involved in ongoing tax proceedings. Unfavourable outcomes in these proceedings could significantly impact the business
Dependent on few clients
A substantial portion of the company's revenues relies on a small number of clients. Any loss or decrease in business from these clients could result in reduced revenues and have a significant negative impact on the company's business, financial condition, and overall performance
Rapidly evolving industry
The company operates in a dynamic and ever-changing industry, posing challenges in accurately assessing future prospects. This uncertainty raises the risk that the company may not sustain its current level of success
IPO FAQs
This IPO consists of an offer for sale of up to Rs 23.4 crore, of 2,849,600 shares. It also consists of a fresh issue of Rs 23.4 crore.
The promoters of the company are Raja Debnath and Gautam Vijay Udani.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 82.0 - 82.0.
The IPO application opens on Jun 22, 2023 and closes on Jun 26, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 131,200.0, the maximum value for this IPO is Rs 131,200.0.
This IPO will be allotted on Jun 30, 2023.
The refund will be credited to your account on Jul 03, 2023.
The allotted shares will be credited to your demat on Jul 04, 2023.
Veefin Solutions Ltd.’s shares listed on the stock exchanges on Jul 05, 2023.