Veefin stated that it’s going to problem practically 13 Lakh fairness shares to non-promoter traders on a preferential foundation at INR 390 every to boost INR 50.7 Cr
The board additionally permitted issuing 11.1 Lakh convertible warrants price INR 43.4 Cr to promoters Raja Debnath and Gautam Udani in addition to two different non-promoters
Based in 2020, Veefin Group is a BSE SME-listed firm which presents provide chain financing and digital lending options to its prospects
Listed fintech SaaS firm Veefin
Options right now acquired board approval to boost INR 94.1 Cr (about $11 Mn) by issuing contemporary fairness shares and convertible warrants.
Marking its second fundraise since itemizing, the corporate stated that it’s going to problem practically 13 Lakh fairness shares to non-promoter traders on a preferential foundation at INR 390 every to boost INR 50.7 Cr. The shares can be allotted to backers like SR International Fund, Piyush Avlani, Yayatikumar Bhatt, and 48 others.
For the fairness elevate, the corporate will enhance its authorised share capital to INR 30 Cr from INR 25 Cr. This may, nonetheless, be topic to shareholder approval at its upcoming extraordinary normal assembly (EGM).
At their assembly right now, the corporate’s board of administrators additionally permitted issuing 11.1 Lakh convertible warrants price INR 43.4 Cr to promoters Raja Debnath and Gautam Udani in addition to non-promoters Tushar G Agrawal and Priti Ashit Mehta.
“Issuance of upto 11,12,820… warrants every convertible into… one fairness share inside the interval of… eighteen months… at a worth of INR 390 every.. aggregating upto INR 43,39,99,800 to the desired promoters and non-promoter shareholders… by means of preferential problem…,” learn the corporate’s filings with the exchanges.
Whereas managing director Debnath will choose up the most important chunk (3.59 Lakh warrants) for INR 14 Cr, Udani will make investments virtually INR 6 Cr. Non-promoters Agrawal and Mehta will make investments INR 11.7 Cr every to bag 3 Lakh warrants.
This comes practically a 12 months after Veefin raised INR 136 Cr in December 2024 by way of a preferential problem to construct its product stack and increase its presence. Again then, it had stated that it deliberate to boost a further spherical of $18 Mn by January 2025 to “fast-track the expansion of Veefin’s revolutionary product portfolio”. That separate spherical didn’t materialise.
Based in 2020, Veefin Group is a BSE SME-listed firm which presents provide chain financing and digital lending options to its prospects. It caters to a various base of clientele comprising banks, monetary establishments, fintech companies, B2B marketplaces, and enormous firms.
The potential fundraise comes at a time when the fintech SaaS firm has been on an acquisition spree. Previously 12 months, it has acquired stakes in firms like digital advertising and marketing agency White Rivers Media, GenAI startup Walnut AI, lending enablement platform EpikInDiFi, amongst others.
On the monetary entrance, Veefin’s revenue greater than doubled (112%) to INR 20.5 Cr in FY25 in comparison with INR 9.7 Cr within the 12 months in the past fiscal. In the meantime, its income from operations stood at INR 80.44 Cr within the fiscal below overview, up 222% from INR 24.99 Cr in FY24.
Veefin ended right now’s buying and selling day 4.99% increased at INR 391.55 on the BSE SME.
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