Veritas Finance files SEBI DRHP to raise Rs 900 crore in IPO

Veritas Finance Ltd, a retail‑focused, non‑deposit‑taking NBFC headquartered in Chennai, has refiled a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering. The plan seeks to raise up to Rs 900 crore through a fresh issue of equity shares and includes an Offer for Sale of up to 1.28 crore shares by existing shareholders. The company may also conduct a pre‑IPO placement of securities worth up to Rs 180 crore, which would reduce the size of the fresh issue accordingly. Proceeds are earmarked to strengthen the capital base and support future lending activities.

As of 31 March 2026, Veritas Finance reported assets under management of Rs 9,134 crore, a profit of Rs 330.3 crore and loan disbursements of Rs 4,579.5 crore. The NBFC operates 444 branches across ten states and one Union Territory, with a strong presence in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and West Bengal. ICICI Securities, IIFL Capital Services, JM Financial and SBI Capital Markets are the book‑running lead managers for the issue.