Veritas Finance gets SEBI nod for IPO
By Abha Lohia · Editor ·
SEBI nodChennai
- Veritas Finance is a Chennai-based non-banking lender backed by Norwest Venture Partners and Kedaara Capital
- The market regulator cleared its refiled draft prospectus, letting it go ahead with a public issue
- The offer has a ₹900 crore fresh issue plus a share sale by existing holders of up to 1.28 crore shares
What happened
- Regulator observations came on 19 Oct 2026.
- Fresh issue of ₹900 crore.
- Sellers offload up to 1.28 crore shares.
Why it matters
- Earlier plan was up to ₹2,800 crore and was not pursued.
The business
- Veritas Finance is a professionally managed NBFC.
The founders
Who put in money
- Norwest Venture Partners Investor
- Kedaara Capital Investor
- Lok Capital Selling shareholder
- British International Investment Selling shareholder
What happens next
- File red herring prospectus
Words to know
- Red herring prospectus
- Near-final offer document with dates and structure
The numbers around it
Financial Services in November 2026: 4 rounds with a disclosed amount, $166 million in all; the biggest was OnEMI (₹832 Cr). Every sector this year →
Other articles talking about it
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the public and lists on a stock exchange. In India SEBI supervises it and the shares trade on the NSE and BSE. A retail investor can bid up to ₹2 lakh, and the issue stays open for three working days.
- Offer for sale: In a fresh issue, the company creates new shares and receives the money. In an offer for sale (OFS), existing shareholders sell shares they already hold and the company receives nothing. Most Indian IPOs mix the two, and SEBI's ICDR Regulations require sellers to have held their shares for at least one year.
- SEBI: The Securities and Exchange Board of India (SEBI) is India's market regulator, set up in 1992. A startup meets it mainly through venture funds registered under the 2012 AIF rules, when it prepares an IPO, or when its product gives investment advice. A private startup raising from a few investors is first governed by the Companies Act.
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