Veritas Finance, a Chennai-based non-banking financial company (NBFC), has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO).
The company, backed by Norwest Venture Partners and Kedaara Capital, refiled its draft IPO papers with the capital markets regulator on July 29, 2026, with a revised offer structure.
According to SEBI's processing status of draft offer documents published on November 9, the regulator issued its observations on Veritas Finance's draft prospectus on October 19, 2026.
The issuance of observations allows the company to proceed with the IPO process and file its red herring prospectus (RHP) with the Registrar of Companies (RoC), disclosing details such as the IPO opening dates and final issue structure.
The professionally managed NBFC plans to raise Rs 900 crore through a fresh issue of equity shares, while existing shareholders will sell up to 1.28 crore equity shares through an offer for sale (OFS).