Veefin Secures Board Approval to Raise ₹35 Crore Through NCDs

New Delhi, India Jul 25, 2026 ALN: BSE SME-listed Veefin Solutions has received board approval to raise up to ₹35 crore via the issuance of non-convertible debentures (NCDs). This decision marks a significant step in the company’s ongoing strategy to enhance its financial base and facilitate further growth. Non-convertible debentures are a type of debt security that cannot be converted into equity shares, which makes them a popular choice for companies looking to raise capital without diluting ownership.

In a filing with the exchanges, the company stated that it will issue up to 3.5 lakh NCDs, each with a face value of ₹1,000. The issuance of these NCDs will be conducted in one or more tranches through a private placement, which is a method of raising capital by selling securities to a small number of selected investors rather than through a public offering. This approach is often preferred by companies as it can be quicker and less expensive than going through the public market.

The board has authorized certain undisclosed individuals to determine and finalize the terms and conditions for this fundraising. This level of discretion granted to specific individuals indicates the company's intent to move swiftly in response to market conditions and investor interest. The flexibility in terms and conditions can also allow Veefin to tailor the offering to meet the specific needs of potential investors, thereby enhancing the likelihood of a successful fundraising round.

“We wish to inform you that the board of directors has inter alia approved the raising of funds through the issuance of non-convertible debentures for an aggregate amount of up to ₹35 crore in one or more tranches or series on a private placement basis,” the filing noted. This formal communication underscores the company's commitment to transparency and regulatory compliance as it seeks to engage with the investment community.

This marks the company’s second capital fundraising effort since its SME listing in 2023. Previously, Veefin’s board approved a ₹94 crore fundraising through a preferential issue of equity shares and convertible warrants. Such fundraising activities are critical for companies, especially those in the technology and financial sectors, as they often require substantial capital to invest in product development, market expansion, and technology upgrades.

The recent development follows a day after the company’s shareholders approved a plan for the mainboard listing of Veefin. All 1.1 crore shareholders voted in favor of the proposal, indicating strong support for the company's growth trajectory and strategic direction. The transition from the SME platform to the mainboard is a significant milestone, as it typically represents a company’s maturation and readiness to engage with a broader investor base.

With clearance from stock exchanges still pending, this planned migration would signify a key milestone for the company, which has been listed on the BSE SME platform since 2023. SME platforms cater to smaller companies, while migration to the main board typically reflects a company’s growth in scale, financial performance, and market presence. This transition can enhance the company's visibility and credibility in the market, potentially attracting more institutional and retail investors.

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. The company's focus on providing innovative financial technology solutions positions it well within the rapidly evolving fintech landscape. As digital transformation continues to reshape the financial services sector, companies like Veefin that offer specialized software solutions are likely to play a pivotal role in facilitating this transition.

Over the past year, Veefin has also expanded beyond its core business through acquisitions and strategic investments. This strategy of diversification not only helps in mitigating risks associated with reliance on a single business line but also enhances the company's overall value proposition by broadening its service offerings. By acquiring stakes in companies such as digital marketing firm White Rivers Media, GenAI startup Walnut AI, and lending enablement platform EpikInDiFi, Veefin is positioning itself to leverage synergies across different sectors and enhance its competitive edge in the fintech space.

Financially, Veefin’s revenue from operations surged 339% year-on-year to ₹345.1 crore in FY26, while net profit nearly doubled year-on-year to ₹32 crore. Such impressive financial performance is indicative of the company’s successful execution of its business strategy and its ability to capitalize on the growing demand for digital financial solutions. The significant growth in revenue and profit suggests that Veefin is not only expanding its market share but also improving its operational efficiency.

Shares of Veefin closed yesterday’s trading session 0.78% higher at ₹305.25 on the BSE. This slight increase in share price reflects investor confidence in the company’s growth potential and strategic initiatives. As Veefin continues to navigate the challenges and opportunities in the fintech landscape, its ability to maintain investor trust and deliver on its growth promises will be critical to its long-term success.

In conclusion, Veefin's recent board approval to raise ₹35 crore through NCDs and the planned migration to the mainboard highlight the company's proactive approach to capital management and growth. As it continues to expand its operations and enhance its financial position, Veefin is poised to play a significant role in the evolving fintech sector, contributing to the broader digital transformation in financial services.

The issuance of NCDs is particularly relevant in the current financial climate, where companies are increasingly looking for alternative financing options to support their growth strategies. The ability to raise funds without diluting equity can be an attractive proposition for management teams focused on maintaining control while still accessing the necessary capital for expansion.

Moreover, the growing interest in fintech solutions, especially in a post-pandemic world, has created a fertile ground for companies like Veefin. The demand for efficient and innovative financial services has surged, as businesses and consumers alike seek digital solutions that offer convenience and security. Veefin's commitment to providing cutting-edge technology in supply chain finance and digital lending aligns well with these market trends, positioning the company for sustained growth.

As Veefin prepares for its transition to the mainboard, it will likely face increased scrutiny from investors and analysts. This transition often comes with higher expectations regarding performance and transparency, as mainboard companies are typically held to stricter regulatory standards. The company’s ability to meet these expectations will be crucial as it seeks to solidify its reputation and attract long-term investors.

In light of the recent developments, stakeholders will be closely monitoring how Veefin executes its fundraising strategy and whether it can successfully leverage the capital raised to fuel its growth ambitions. The fintech sector is characterized by rapid changes and fierce competition, making it essential for companies to remain agile and responsive to market demands.

In summary, Veefin's strategic moves, including the approval for NCD issuance and the anticipated mainboard listing, underscore its commitment to growth and innovation in the fintech space. As the company continues to navigate the complexities of the financial landscape, its focus on leveraging technology and expanding its service offerings will be pivotal in achieving its long-term objectives.