Veefin Solutions is a Digital Lending and Supply Chain Finance (SCF) technology product solutions company based out of Mumbai, India. SCF is a financial tool that is used to help businesses manage their cash flow and improve their working capital. They offer product solutions to a wide range of clients globally, including Banks, Corporates, Marketplaces, Fintech and Non-Banking Financial Institutions.
The company’s technology product solutions are unique offerings, that are designed with a user-led approach, data and analytics, and built by experienced bankers for bankers. Veefin Solutions’ SCF product and platform are highly flexible and can be promptly configured to meet the thorough needs of the clients, without relying on third-party execution.
Now in June 2023, Veefin Solutions are going public to meet their business objectives.
Veefin Solutions Limited IPO Details
Veefin Solutions Limited IPO is an SME IPO of 56,99,200 shares with a face value of Rs. 10, aggregating up to Rs. 46.73 crore. The issue is priced at Rs. 82 per share. The minimum order quantity is 1,600 shares. Retail investors can bid for the Veefin Solutions Limited IPO which will open on 22nd June 2023. It will be listed on the BSE exchange on 5th July 2023.
Veefin Solutions Limited IPO Objective
The objectives of Veefin Solutions Limited's IPO are listed below:
- To meet global sales and marketing expenses.
- To develop new products or enhancement and maintenance, updating existing products.
- For general corporate expenses.
Competitive Peers
Veefin Solutions Limited does not have ‘like-for-like’ competitors in India. But globally, they consider financial technology product providers like Demica, HPD Lendscape, Premium Technologies, Fin2B and Intellect Design as potential competition.
Highlights of Veefin Solutions Ltd
- Veefin Solutions Ltd offer custom-made solutions according to business needs.
- Their cater to various groups like Banks, Corporates, Marketplaces, Fintech and Non-Banking Financial Institutions.
- Looking into their financials, the revenue from operations well increased was Rs. 1,213.79 lakh as of 31st January 2023, which was Rs. 654.95 on 31st March 2023.
Company Financials
| Particulars | As of 31st January 2023 (Rs. lakhs) | As of 31st March 2022 (Rs. lakhs) |
|---|---|---|
| Revenue from Operations | 1,213.79 | 654.95 |
| Profit After Tax (PAT) | 350.02 | 70.01 |
| PAT Margin | 28.84% | 10.69% |
| EBITDA | 485.95 | 104.03 |
| EBITDA Margin | 40.04% | 15.88% |
| Debt-to-Equity Ratio | 0.01 | 0.37 |
| ROE | 13.42% | 13.60% |
Know before investing
Strengths
3The company is engaged in providing financial products and digital solutions.
The company has a low debt-to-equity ratio, meaning it has a strong financial position.
The company is expanding into new markets, which will help to increase its revenue and profits.
Risks
3The issue has been aggressively priced based on financial performance till now.
The company's stock price is volatile, so it can fluctuate significantly.
The company is not as well-known as larger companies.
