Veefin Solutions IPO: Subscription status on Day 1 and other issue details you need to know | Mint – Mint

Veefin Solutions Ltd IPO Subscription Status: The SME initial public offering (IPO) of Veefin Solutions Ltd was subscribed 50% on Day 1. The public issue that opened for subscription on Thursday, June 22, will close on Monday, June 26.
On Day 1 of the subscription, the issue received positive response from retail investors and portion set was subscribed 20%. While the non-institutional bidders (NII) portion received 80% subscription, according to data on
The company has received bids for 27,16,800 shares against 5,699,200 shares on offer, according to data on
The IPO’s issue price has been set at 82 per share.
The initial public offering would consist of 56,99,200 equity shares with a face value of 10 each, priced at 82 per share, for a total of 46.73 crore. The minimum lot size for the application is 1,600 shares, which equates to 1,31,200 each application. As part of the IPO, 50% of the shares are reserved for individual investors. The market maker reserve part is 2,88,000 equity shares, according to the company.
The proceeds of the public offering will be used for global sales and marketing expenditures, new product development or enhancement and maintenance, upgrading or updating current products, and general business purposes, according to the company.
The company’s segments include supply chain finance tech solutions and digital lending suite solutions. Banks, non-banking financial institutions, fintech, and marketplaces are among Veefin Solutions’ clients.  Yes Bank, IndusInd Bank, Indian Bank, The City Bank (Bangladesh), Aditya Birla Capital, Mintifi, BRAC, VP Bank, Riyadh Bank, and Ambit Finvest are its corporate clients.
The allotment status for Veefin Solutions’ IPO will be displayed on or around Friday, June 30. By Tuesday, July 4, the allotted shares will be credited to investors demat account. The company’s shares will be listed on the BSE SME on Wednesday, July 5th, following the IPO. The issue is led by Shreni Shares Pvt. Ltd.
The company recorded total revenue of 655.19 lakh and net profit of 70.01 lakh for FY 21-22. The company recorded revenues of 1262.36 lakh and a net profit of 350.02 lakh for the ten months ended January 2023 (10MFY23), according to the company.
“Though the company claims to be the unique SCF segment player, as per market observers there are many players around offering such services categorically. Based on its super FY23 earnings, the issue appears greedily priced. Veefin Solutions is seeking fancy valuations for its IPO (discounting all near-term prospects) in relation to its financial performance so far. Only well-informed / risk seekers may consider parking funds, others can stay away,” said Dilip Davda, the contributing editor at
Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It’ll just take a moment.
You are just one step away from creating your watchlist!
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp







Leave a Reply

Your email address will not be published. Required fields are marked *