Veritas Finance Limited IPO
Veritas Finance Limited IPO
Mainboard NSE & BSE 100% Book Built Offer

Business Overview

Veritas Finance is a retail-focused non-banking financial company (NBFC) that primarily provides loans to MSMEs and self-employed individuals. The company operates through a network of 424 branches (excluding service centres) across 10 states and one union territory in India, offering a range of financial products, including small business loans, home loans, and used commercial vehicle loans. As of September 30, 2024, its total Loans under Management (AUM) amounted to ₹65,172.17 million across multiple lending segments. Veritas Finance focuses on extending retail credit to underserved borrowers in rural and semi-urban areas who have limited access to formal financial institutions and traditional documentation. Its growth is driven by a diversified product portfolio, broad geographic presence, and a proprietary credit assessment model designed to evaluate borrower risk effectively.

Veritas Finance IPO Size

Fresh Issue
₹600 Cr (TBA Shares)
Offer For Sale
₹2,200 Cr (TBA Shares)

Objects of Issue

  1. Augmenting our capital base to meet future business requirements of the Company toward
    onward lending

Veritas Finance IPO IPO Financial Performance

(Rs. in crores)

Financial Performance Metrics for Veritas Finance IPO
Particulars Mar-24 Mar-23 Mar-22
Revenue from Operations 716.85 122.15 84.61
Profit after Tax 133.11 11.65 33.23
Net Worth 117.43 77.85 62.60
Total Borrowing 24.85 37.77 24.58
Total Assets 201.76 175.75 130.71
NAV per share (in ₹) 58.43 41.67 34.03
EPS - Basic (in ₹) 18.90 5.78 16.49

Key Performance Indicators (KPIs)

EBITDA

31.93%

PAT

18.75%

ROE

37.82%

ROCE

40.90%

Debt to Equity

0.21

  • All the data pertains to FY 2023-24.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Promoter Holding

Promoter

84.96%

Public

15.04%

Sanjay Namdeo Salunkhe 78.20%
Balkrishna Namdeo Salunkhe 2.26%
Other Promter 4.50%

Management

Sanjay Namdeo Salunkhe
Chairman & MD
Ranjita Raman
CEO
Sankesh Kashinath Mophe
CFO

Registrar & Lead Managers

Company Details

Name: Veritas Finance Limited

Address: SKCL Central Square 1, South and North Wing, 7th Floor, Unit # C28 - C35, CIPET Road, Thiru Vi Ka Industrial Estate, Guindy, Chennai 600 032, Tamil Nadu, India

Number: +91 044 4615 0011

Email: cs@veritasfin.in

Website: www.jaroeducation.com