New Delhi

VeritasFinance Ltd, a non-deposit-taking non-banking financial company (NBFC), has received Sebi’s approval to launch its initial public offering (IPO), comprising a fresh issue of equity shares worth Rs 900 crore, according to an update by the markets regulator.

The proposed IPO will also include an offer for sale (OFS) of up to 1.28 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). The company had refiled its preliminary papers with the Securities and Exchange Board of India (Sebi) in July. After examining the draft documents, the regulator issued its final observations on October 19, paving the way for the public issue, the update showed.

The latest draft papers’ filing came just ahead of the expiry of the regulatory approval granted for the company’s earlier IPO proposal. In January 2025, the retail-focused NBFC had filed draft papers with Sebi to raise Rs 2,800 crore through an IPO, comprising a fresh issue of shares worth Rs 600 crore and an OFS of Rs 2,200 crore.