Veritas Finance Refiles IPO: Aims to Raise Rs 900 Crore

Veritas Finance Ltd. has refiled its preliminary IPO papers with SEBI, aiming to raise Rs 900 crore through a fresh issue of equity shares. The offering also includes an Offer for Sale of up to 1.28 crore equity shares from existing holders.

Key Financials & IPO Details

The fresh issue targets Rs 900 crore.

The Offer for Sale includes up to 1.28 crore equity shares.

Veritas’s previous IPO proposal in January 2025 aimed for Rs 2,800 crore.

A pre-IPO placement of up to Rs 180 crore is also possible, which would reduce the fresh issue size.

This refiling occurs before the regulatory approval for Veritas’s previous IPO proposal expires. That earlier filing in January 2025 sought Rs 2,800 crore, with SEBI granting observation in April 2025. Funds from the fresh issue will bolster the company’s capital base for future business needs and onward lending.

Established in 2015, Veritas Finance operates as a non-deposit taking NBFC specializing in business loans for micro, small, and medium enterprises (MSMEs) and self-employed individuals. Its offerings have expanded to include home loans, used commercial vehicle loans, and working capital loans.

Performance Snapshot (March 31, 2026)

Assets Under Management (AUM) stood at Rs 9,134 crore.

The company achieved a Compound Annual Growth Rate (CAGR) of 26.33% between FY24 and FY26.

For fiscal year 2026, profit reached Rs 330.3 crore.

Disbursements totaled Rs 4,579.5 crore in FY26.

Veritas Finance is categorized as an NBFC-Middle Layer, operating 444 branches across 10 states and one Union Territory as of March 2026. The company maintains a strong presence in southern and eastern Indian states such as Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and West Bengal.

The IPO’s book-running lead managers include ICICI Securities, IIFL Capital Services, JM Financial, and SBI Capital Markets.