Veefin Solutions Limited IPO Message Board (Page 3)

@M Gupta @KING VINOD @Arjun Rajkot @GrayIsTheNewBlack @KAPPO @Paapi Lomdi  Guru's and experts pls update if any GMP or SS availed on this counter..?

Thanks in advance.

@Zindgi , haven't heard of any recent trades.
Last I heard was buyer at 2.5 couple of days ago.

Buy thi shares on day of listing..gud portfolio stock

Any insider info?

any news

@lokesh bhai, noorul bhai
Are u applying

@SKalyan  yes i will apply in magson, that is looking good bet for mid to long term.....that can be applied in my view....

Lokes Ji : thanks for your prompt reply.

Have you get allotment in Atmja hospital?
I got 1/6 in retail category, if possible please share your view in this sme also🙏

Veefin Solutions IPO,
2 retail apps from my end
1 ASBA + 1 UPI (mandate accepted)

HDFC Bank created one issue otherwise
1 HNI of 3 lots was there
mandate failed while accepting

Applied 3 retail

Allotted in both the applications
Considering Retail      1.65x, chances were already higher

S for Singh Saheb and S for Sherni I think enough reason to apply

@SSingh , Sir applied by UPI

Risky bet... But APPLIED. I will get 5-6 lots here.
Jahan bheed kam hai wahin paisa banta hai :)
"Shreni" is the reason. Baaki Jo Ramji chahe.
Listing pe pata chalega ab ho hona hai.
Jai Shri Ram. 🙏🙏

Good conviction. Wish you good profit.

@Trueinfo Thanks Bhai!
@Kapil Mehra Bhai, it's closed now. :)

Dear Admin
Subscription status is not being updated since 20 minutes...

Giving this a miss as
-Lot of other better options for applying.
-It is a large IPO so selling pressure on listing day would be huge. Also no QIB quota. Spectrum has shown what huge selling pressure without buying support on listing can do.

Won't list at discount

At least this LM is much better than S(w)ARTHI :)

Negatives : Looking very expensive, OFS also there with no QIB, Big size issue , incorporated just 3 years ago and post IPO promoters holding is too low.

Positives : Good LM and debt free.

Overall definitely a avoiding candidate for me.. when too many good other opportunities are available at a same time.

Thank you 👍

💯 % agree with Noorul.

spectrum ka haal dek ker isme himmat nahi ho rahi
tata good bye

Bilkul sahi . saying no to it as other more n more options are coming. Everyone might face shortage of funds also.

Mainly because other better options would be available, with limited funds, I am avoiding this. Also, post-IPO promotor holdings would be too less.

#Veefin #SME
Biz
- Digital Lending & Supply Chain Finance (SCF) technology product solutions
- Supply Chain Finance Software, Loan Origination System, Loan Management System, Collection Management System, Sales CRM, Digital Tools for SME clients of banks, and more
- client list includes Banks, Non-Banking Financial Institutions, FinTech, Marketplaces, & Corporates such as Yes Bank, IndusInd Bank, Indian Bank, Citi Bank, BRAC, VP Bank, Riyadh Bank, Aditya Birla Capital, Mintifi, Ambit Finvest, & others
- Digital Lending Suite Solutions segment cust. includes Agrim Housing Finance, Capri Gold Loan, Jai Kisan, Indium Finance etc.
- awarded the "Most Innovative Supply Chain Finance Solution" at the Fintech India Summit & Awards, 2022, & "Solution of the Year 2021; SCF" at the Inflection Web Conference by Alden Global, CSCMP, SIMM & NASSCOM
- 145 Emp
- have a subsidiary in Bangladesh and Dubai
- our top 10 clients contributed 93.26%, 96.71%, and 100.00% in Fy23,22,21
- S/W export to UAE, USA, Kenya, Cambodia, Bangladesh & Vietnam
- Export rev is of 66%
- ESOPs to Emplpyee

Issue
- 46.73 CR issue, 50% OFS, Mcap of ~174 Cr      
- 3562 lots
- No Anchors or QIB
- Pre Issue Share Holding 56.26% & Post Issue Share Holding 39.84%
- IPO expense is 1.06 Cr so issue is managed
- bulk of proceeds for new product developent and some for sales and marketiing globally

Promoter
-Promoters are highlight educated and comes with deep industrial background
- Ajay Rajendran (Sobha Group) invested at 45 Rs valuation and exiting ~18% shares in OFS

Peer
- Nucleus / Intellect Design Arena etc can enter this segment but many are present

Good
- long term borrowings are being paid since last 2 years
- 67% export and 5.43 Cr Annual recurring revenue

Bad
- Negative OCF
- Other exp of 3.4 cr ?
- Tax % is low
- mainly nontangible assets is big negative
- why 50% dilution in 2 years? doesnt make sense at all
- PE of 171 based on FY22 while PE of ~32 based on FY23 if EPS for full year comes to 2.5
- Very high trade recievables

I will avoid this as i find it expensive and many other opportunity available so dont want to block my capital for this

Thanks. i am not active in this platform that much due to work commitments but i am not new to reviewing IPOs :)

:)

There is virtual flood of good Mainboard and SME IPOs. With funds divided amongst the several good ones, allotment of some of the good IPOs should not be as difficult as normally it is. So, don't think, there is need to look at doubtful ones.

Very True when there are floods of GOOD IPOS WHY TO THINK ABOUT RISKY IPOS FOR JUST TO GET ALLOTMENT...

Gautam Udani is the promoter :)

just like
Aditya Birla is the promoter of Cosmic ;)

Veefin has very short track record - only 2 years. It is not a small IPO - around 50 cr. Out of this, 50% is OFS. Why promoters need so much money is such short span for a business which is IT based.
After dubious performance of Spectrum (with a reputed LM, Saarthi), one can't rely completely on LM and apply blindly,.
It is time to be more vigilant and careful. Spectrum has badly damaged the sentiment and financial capacity of small investors.

Bad part is its fund can't be used in esses/greenchef/ideagorge/cyient
But
Can be used for another Sherni IPO:

Global Pet Industries SME

Issue Dates : 29 June - 03 July
Issue Size : 27,00,000 Shares (13.23 Crore ₹)
Issue Price : 49 ₹
Lot Size : 3,000 Shares
Application Amount : 1,47,000 ₹
Quota: RII 50%, NII 50%)
Lead Manager : Shreni Shares

Also issue expense of 1.06 cr means the issue is managed and will probably sail thru

After the debacle of Spectrum, investors would be wary to apply here in spite of this having an 'MA' review/rating. Also as some of the learned investors have raised concern about this rating. Let's see the final subs.

Sorry Hope is life, we got double worded - at the same time, that is.

Ok thanks to both of u.
I thought sone big investor Mr MA given review/rating on this.

Veefin Solutions (Important Key Points)

About Company:
+ Monopoly type of business (not fully monopoly tho)
+ With the increase in demand for IoT and PCBs, companies can perform well.
+ Company offers SaaS business to many banks.

Well-known Clients:
+ Citi Bank
+ Yes Bank
+ IndusInd Bank
+ Aditya Birla Capital, and many more.

About Sector:
+ Sector is in demand and will eventually grow in the long term.
+ SaaS businesses are usually high margin businesses.
+ Intangible assets are valued in this type of sector.

Company Financial:
From FY 2022–23, In just three quarters, there are huge spikes in the top line and bottom line. Total Assets got 3x, Total Revenue got 2x, PAT got 5x, Reserves and surplus got 2.65x, and To add to that, Borrowing decreased to 1/7th. The balance sheet doesn't justify this, and this seems fishy to me (I can be completely wrong). If the company has taken on large international clients, it may be justified.

My views:
For those who like investing in service industry businesses and have a high appetite to hold for the long term (at least 3–5 years), they will get a chance to enter after listing (most probably below the IPO price). I am not applying here.

Disclaimer: These are all completely my views and not a recommendation to apply or not apply. DYDD. Good luck to everyone!

Good luck to the allotees! I haven't took bet here as of yet, but will enter if I get chance after some correction.