Business · Companies · 14 hrs ago
Veritas Finance gets Sebi approval for proposed IPO
India’s market regulator has cleared Veritas Finance to proceed with a proposed IPO, or public share sale.
The non-bank lender plans to raise ₹900 crore through new shares and sell up to 1.28 crore existing shares.
Money from the new shares is intended to strengthen its capital and support future lending, while proceeds from the existing-share sale go to selling shareholders.
Founded in 2015, Veritas lends to small businesses, self-employed people and other borrowers who may have limited access to formal credit.
Its assets under management reached ₹9,134 crore by March 31, 2026, and it operated 444 branches across 10 Indian states and one Union Territory.
The proposed IPO could help fund more loans across its business and vehicle financing, home loans and working capital products.
The company may first raise up to ₹180 crore in a pre-IPO placement, which would reduce the size of the new-share issue; no IPO date is stated.
Veritas Finance has received approval from India’s Securities and Exchange Board of India to proceed with a proposed initial public offering.
The proposed issue includes a fresh share issue worth ₹900 crore and an offer for sale of up to 1.28 crore shares by existing shareholders.
The company may also raise up to ₹180 crore through a pre-IPO placement, which would reduce the fresh issue by the amount raised.
Veritas Finance plans to use the fresh issue proceeds to strengthen its capital base and support future lending.
As of March 31, 2026, the company reported assets under management of ₹9,134 crore.
- Who
- Veritas Finance Ltd, a non-deposit-taking non-banking financial company.
- What
- It received Sebi approval for a proposed IPO. The issue includes a ₹900 crore fresh issue and an offer for sale of up to 1.28 crore shares.
- When
- Sebi issued its final observations on October 19. The article was published on November 9, 2026.
- Where
- India.
- Why
- The company plans to use proceeds from the fresh issue to strengthen its capital base and support future business needs, including lending.
This story does not have two clearly opposing sides.
Veritas Finance initially filed draft IPO papers seeking to raise ₹2,800 crore.
Sebi approved the earlier IPO proposal.
The company refiled its preliminary IPO documents with Sebi.
Sebi issued final observations on the revised draft papers.
- Fresh issue
- ₹900 crore
- Offer for sale
- Up to 1.28 crore equity shares
- Possible pre-IPO placement
- Up to ₹180 crore
- Assets under management
- ₹9,134 crore as of March 31, 2026
- Branches
- 444 across 10 states and one Union Territory as of March 2026