Veritas Finance Ltd., a Chennai-based non-banking financial company (NBFC), has received observations from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering. The revised issue is expected to comprise a fresh issue of Rs.900 crore along with an offer for sale (OFS) of up to 1.28 crore equity shares by existing shareholders.
The company plans to utilise the proceeds from the fresh issue to strengthen its capital base and support future lending requirements. Its assets under management stood at Rs.9,134 crore as of March 2026, while FY26 net profit was approximately Rs.330 crore. The company has not yet announced its IPO opening date or price band.
Source: Economic Times, 9 November 2026
