Veritas Finance Refiles DRHP with SEBI, Increases Fresh Issue Size to ₹900 Crore  

Mumbai | July 31, 2026 
 

Veritas Finance Ltd. has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). In the latest filing, the company has increased its fresh issue size to ₹900 crore while retaining an Offer for Sale (OFS) by existing shareholders at 1.28 crore equity shares.  

The re-submission of the DRHP comes after the approval granted by SEBI to the company’s previous IPO filing was about to expire, with changes made to the issue structure.  

Revised IPO Structure  

As per the latest DRHP, the proposed IPO will have the following components:  

• Fresh issue of equity shares: ₹900 crore  

• Offer for Sale (OFS) of up to 1.28 crore equity shares by existing shareholders  

The company has also mentioned that the possibility of undertaking a pre-IPO placement of specified securities with a tentative value of up to ₹180 crore. In the case of a successful placement, the fresh issue will be reduced by the amount raised.  

Key Changes from the Previous Filing  

Veritas Finance had initially filed its DRHP with SEBI in January 2025, intending to raise ₹2,800 crore via IPO. The earlier proposal included:  

• Fresh issue of ₹600 crore  

• Offer for Sale worth ₹2,200 crore  

Following SEBI’s observation letter in April 2025, the company got the go- ahead proceed with its IPO but had to resubmit a revised DRHP because the approval was set to expire shortly. The revised DRHP increased the fresh issue size while retaining the OFS component as mentioned above.  

 Purpose of the Fundraise  

The company plans to utilise the net proceeds from the fresh issue primarily to strengthen its capital base and support future business requirements, including expanding its lending operations.  

About Veritas Finance  

Veritas Finance is a non-deposit taking NBFC that primarily offers business loans to micro, small and medium enterprises (MSMEs) and self-employed individuals that was incorporated in 2015. The company also provides home loans, used commercial vehicle loans and working capital loans.  

As of March 31, 2026, Veritas Finance operated 444 branches (excluding service centres) across 10 states and one Union Territory. Its primary markets continue to be Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and West Bengal.  

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