Veefin veefin solutions Limited announced on July 28, 2026, that its digital working capital platform, PSB Xchange, has onboarded Punjab National Bank (PNB) as a lending partner. The collaboration integrates one of India's largest Public Sector Banks into the unified digital ecosystem, aiming to accelerate access to institutional working capital for dealers, distributors, and micro, small, and medium enterprises (MSMEs). By leveraging shared digital infrastructure, the partnership seeks to reduce the need for multiple point-to-point integrations, thereby facilitating faster programme implementation and improved operational efficiency for participating anchor corporates.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations, 2015). Under the agreement, PNB will use the PSB Xchange platform to offer digital supply chain finance solutions to eligible borrowers associated with participating corporates. The platform standardizes the process for seamless digital onboarding, credit assessment, and financing, allowing PNB to strengthen its digital supply chain finance capabilities while expanding its reach within the dealer and distribution ecosystems.

Strengthening the Lender Ecosystem

PSB Xchange connects lenders, corporates, and ecosystem partners through a unified technology platform developed by Veefin and powered by PSB Alliance. The addition of PNB significantly strengthens the platform's lender ecosystem by incorporating a bank with a well-established Supply Chain Finance portfolio. This expansion enhances the availability of institutional finance across broader networks, enabling corporates to benefit from a larger pool of lending partners. The shared infrastructure is designed to facilitate faster portfolio monitoring and operational efficiency, addressing the growing working capital needs of businesses across India.

Stakeholder Perspectives

Shri M Paramasivam, Executive Director at Punjab National Bank, stated that the bank is committed to supporting Indian businesses through technology-led banking solutions. He noted that joining PSB Xchange strengthens PNB's Supply Chain Finance capabilities through a unified digital platform that enables faster onboarding and efficient credit delivery. Ms. Anjali Mohanty, Managing Director and Chief Executive Officer of PSB Alliance, described the onboarding as a milestone in expanding the collaborative digital infrastructure. She emphasized that PNB's participation strengthens the collective ability to deliver seamless, technology-driven working capital solutions.

Mr. Raja Debnath, Managing Director of Veefin Group, highlighted PNB's status as the third-largest Public Sector Bank in India and a leading Supply Chain Finance lender. He stated that PNB brings exceptional scale and deep domain expertise to the platform, reinforcing the vision of building a unified digital infrastructure where banks, corporates, and MSMEs can collaborate seamlessly. The company indicated that it will continue to onboard leading financial institutions and corporates to drive greater financial inclusion nationwide.

Shareholders of Veefin Solutions have unanimously approved the company’s strategic expansion into broader equity markets, endorsing its migration from the SME Platform to the Main Board of BSE Limited and initiating a direct listing on the National Stock Exchange of India Limited (NSE). The approval clears the regulatory pathway for enhanced liquidity and visibility for the company’s equity shares. This move marks a significant milestone for the firm, transitioning it from the specialized SME segment to the main trading boards of India’s two premier stock exchanges.

The resolutions were passed on July 21, 2026, which marked the conclusion of the remote e-voting period for the postal ballot. The process was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Maharshi Ganatra of Maharshi Ganatra & Associates, a practicing Company Secretary, served as the independent scrutinizer for the e-voting process. The voting window opened on June 22, 2026, and closed at 5:00 PM Indian Standard Time on July 21, 2026. Members holding shares as of the cut-off date, June 12, 2026, were eligible to vote.

The voting results reflect unanimous support across all shareholder categories for both special resolutions. A total of 11,282,087 votes were polled out of 25,539,417 shares held, representing a participation rate of 44.1752%. Every vote cast was in favor of the proposals, with zero votes recorded against either resolution.

Under Regulation 277 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the validity of such resolutions depends on the support of public shareholders. The scrutinizer confirmed that the votes cast by public shareholders in favor exceeded twice the number of votes cast against, thereby satisfying the regulatory requirement. Consequently, both special resolutions were deemed duly passed by the members with the requisite majority.

What This Means for Investors

The unanimous approval underscores strong shareholder confidence in Veefin Solutions’ growth trajectory. Migration to the BSE Main Board and listing on the NSE will subject the company to stricter disclosure norms but will also provide access to a wider pool of institutional and retail investors. The enhanced market presence is expected to improve the tradability of its shares and potentially reduce the cost of capital. Shareholders should monitor subsequent filings for the specific dates when trading commences on the new platforms, as these will be determined by the exchanges following the completion of formal procedural requirements.