Multiple Private Equity, IFC to invest Rs 1,050 crore in Veritas Finance

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Multiples Private Equity and International Finance Corporation (IFC) are investing Rs 1,050 crore in the MSME lender, reports Veritas Finance Private.

The deal includes a ₹400 crore IPO and provides a partial exit for the initial investors, British International Investment (BII) and Look Capital. The Avendus Future Leaders Fund has also invested Rs 150 crore in the latest round.

D. Arulmany, Managing Director and CEO of Veritas, said the new capital raised will provide an important runway for growth, help deepen its existing offering and expand into affordable residential space. “We strongly believe that these partnerships will further catalyze our mission to serve the underprivileged,” he said.

First published: Jul 06 2023 | 12:48 a.m ist