Veefin Solutions Secures In-Principle Approval from BSE for Mainboard Migration — September 21, 2026

Enterprise banking and supply chain finance software provider Veefin Solutions Limited has received in-principle approval from BSE Limited to migrate its equity shares from the BSE SME platform to the exchange's Mainboard. The approval clears a critical procedural milestone for the Mumbai-headquartered fintech company, paving the way for expanded institutional participation and broader retail liquidity.

The approval was accorded by BSE's Internal Regulatory Oversight and Review Group (IRORG) on September 11, 2026. Under the exchange framework, the company is required to conclude all remaining listing formalities within 45 days from the date of the in-principle sanction.

Stepping Stone to Mainboard and NSE Listing

The regulatory clearance follows Veefin's submission of its Information Memorandum dated September 8, 2026, to the BSE. The memorandum encompasses 2,55,39,417 fully paid-up equity shares of face value ₹10 each. The company confirmed that no new shares are being offered for sale under this filing.

Veefin's shareholders had earlier granted unanimous backing to the migration proposal during a vote held on July 21, 2026, wherein 100% of polled votes supported moving to the BSE Mainboard and seeking a direct listing on the National Stock Exchange of India (NSE). The formal application for listing on the NSE Mainboard will be submitted once all requisite BSE approvals are wrapped up.

Evolution Since SME Debut

Veefin Solutions initially went public on the BSE SME platform on July 5, 2023. Over the subsequent three years, the company expanded beyond its foundational supply chain finance platform into a comprehensive enterprise transaction banking suite spanning digital lending, loan origination, loan management, collections, and cash management.

Commenting on the migration journey, Raja Debnath, Co-founder and Managing Director of Veefin Solutions, noted that moving to the Mainboard reflects the organization's rapid evolution from a niche fintech provider to an enterprise banking technology partner serving financial institutions across domestic and international markets. Gautam Vijay Udani, Whole-Time Director, highlighted that direct access to the main exchanges will mark a defining chapter for the company’s capital structure and stakeholder reach.

Financial Profile and Outlook

Veefin has demonstrated substantial operational expansion leading up to the migration:

• FY26 Standalone Performance: Net profit after tax reached ₹18.20 crore, rising 63.2% compared to ₹11.15 crore in FY25, while standalone revenue grew to ₹70.74 crore.
• Consolidated Scale: Consolidated revenue for FY26 surged 339.1% year-on-year to ₹345.13 crore, driven by organic additions and strategic consolidations, with consolidated profit after tax expanding to ₹31.96 crore.

Following the formal listing on the Mainboard, Veefin Solutions will transition to full compliance under the standard listing obligations and disclosure requirements (LODR) framework governed by the Securities and Exchange Board of India (SEBI). For market participants, the shift removes the minimum lot-size constraints typical of SME board trading, enabling normal single-share transactions and higher visibility among institutional funds.

Tags: Veefin Solutions BSE NSE SEBI Fintech Banking Technology