Veefin Gets Board Nod To Raise ₹35 Cr Debt

BSE SME-listed Veefin Solutions has received board approval to raise up to ₹35 Cr via issuance of non-convertible debentures (NCDs).

In a filing with the exchanges, the company said that it will issue up to 3.5 Lakh NCDs, with a face value of ₹1,000 each. Veefin also said that the debt will be issued in one or more tranches via a private placement. 

The company also noted that its board has authorised certain undisclosed persons to determine and finalize the terms and conditions for the fundraise. 

“… We wish to inform you that the board of directors… has inter alia approved the raising of funds through issuance of non-convertible debentures… for an aggregate amount of up to ₹35 Cr in one or more tranches or series on a private placement basis,” read the filing.

Notably, this will be the company’s second capital fundraise since its SME listing in 2023. Last year, Veefin’s board also approved a ₹94 Cr fundraise through a preferential issue of equity shares and convertible warrants.

The development also comes a day after the company’s shareholders also cleared a plan for the mainboard listing of Veefin. All 1.1 Cr shareholders voted in favour of the proposal.

With clearance from stock exchanges still pending, the planned migration would mark a key milestone for the company that has been listed on the BSE SME platform since 2023. SME platforms are designed for smaller companies, while a migration to the main board typically reflects a company’s growth in scale, financial performance and market presence.

Founded in 2020 by Gautam Udani and Raja Debnath, Veefin develops supply chain finance and digital lending software for banks, NBFCs, fintech startups and enterprises. However, over the past year, Veefin has also expanded beyond its core business via acquisitions and strategic investments. 

In recent months, the company has picked up stakes in digital marketing firm White Rivers Media, GenAI startup Walnut AI and lending enablement platform EpikInDiFi to broaden its fintech software offerings.

On the financial front, Veefin’s revenue from operations zoomed 339% YoY to ₹345.1 Cr in FY26, while net profit nearly doubled YoY to ₹32 Cr. 

Shares of Veefin ended yesterday’s trading session 0.78% higher at ₹305.25 on the BSE. 

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