Sebi approves IPOs of Veritas Finance, Laxmi India Finance, 3 others

Market regulator SEBI has approved IPO proposals from five companies including Veritas Finance and Laxmi India Finance, collectively aiming to raise ₹3,500 crore. Veritas Finance's ₹1,200 crore offering comprises fresh equity for lending expansion and an offer-for-sale by existing investors. These approvals signal continued strong primary market activity in 2025, with 18 IPOs already raising over ₹25,000 crore year-to-date. SEBI has implemented enhanced scrutiny for financial sector issuers, particularly regarding asset quality disclosures and related-party transactions. The approved companies plan to list by Q3 2025 to capitalize on improving market sentiment toward NBFCs and financial services firms. Market observers note the approvals reflect SEBI's balanced approach - facilitating capital access while ensuring robust investor protections. The regulator has mandated additional risk factor disclosures specific to lending businesses, including portfolio quality metrics and stress test results. These IPOs will test investor appetite for financial services stocks amid evolving interest rate conditions and economic growth outlook.