Veritas Fin Plans Rs 2,800-Cr IPO

New Delhi: Veritas Finance Ltd, a retail focused non-deposit taking NBFC, has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 2,800 crore through an IPO. The IPO comprises a fresh issue of equity shares aggregating up to Rs 600 crore and an OFS of equity shares worth Rs 2,200 crore by the investor and in-dividual selling shareholders, according to the DRHP filed on Sat-urday.

The public offer includes a reservation of equity shares for subscription by eligible em-ployees. Under the OFS, shares worth Rs 550 crore each would be offloaded by Norwest Ven-ture Partners X - Mauritius and Kedaara Capital Fund II LLP, Rs 500 crore by British Interna-tional Investment plc, Rs 425 crore by Lok Capital Growth Fund, and Rs 75 crore by Growth Catalyst Partners LLC. Additionally, individual shareholders are offering Rs 36 crore by Vidya Arulmany, Rs 21 crore each by P Surendra Pai and Savita S Pai, Rs 14 crore by Sheela Pai Cole, and Rs 8 crore by Moneisha Sharad Gandhi.