Veefin Solutions Limited has achieved a significant regulatory milestone by receiving an observation letter from BSE Limited for its proposed merger scheme. The development marks a crucial step forward in the company's consolidation strategy involving two subsidiary entities.

BSE Grants Regulatory Clearance

BSE Limited issued its observation letter on April 01, 2026, under Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exchange confirmed it has "no adverse observations" regarding the proposed scheme, specifically with reference to matters bearing on listing and continuous listing requirements.

Merger Scheme Structure

The proposed scheme involves the arrangement and amalgamation of two transferor companies with Veefin Solutions Limited as the transferee company. GlobeTF Solutions Limited (CIN: U62011MH2023PLC415115) and Estorifi Solutions Limited (CIN: U72900MH2020PLC347754) will be merged into Veefin Solutions Limited (CIN: L72900MH2020PLC347893) along with their respective shareholders.

Comprehensive Compliance Requirements

SEBI, through its letter dated March 30, 2026, has outlined 13 specific conditions that must be fulfilled. The key requirements include:

Disclosure Obligations

• Complete details of ongoing adjudication and recovery proceedings against the entity, promoters, and directors
• Information about all unlisted companies involved in the format specified for abridged prospectus
• Financial statements not older than six months for valuation purposes
• Comprehensive asset, liability, net worth, and revenue details pre and post-scheme

Transparency Measures

• Additional information submitted after filing must be displayed on company and stock exchange websites
• Detailed valuation basis including projections and growth rate justifications
• Updated shareholding patterns before and after the merger
• Impact analysis on revenue generating capacity and shareholder benefits

Operational Requirements

• All proposed equity shares must be issued in demat form only
• Complete transfer of liabilities from transferor companies to transferee company
• Compliance with all applicable provisions of Companies Act, 2013
• No changes to draft scheme without specific written consent from SEBI

Next Steps and Timeline

The observation letter provides Veefin Solutions Limited with the regulatory clearance needed to file the scheme before the National Company Law Tribunal (NCLT). The company has six months from April 01, 2026, to submit the scheme to NCLT. BSE has reserved the right to withdraw its "no adverse observation" status if any information is found to be incomplete, incorrect, misleading, or false.

The company secretary and compliance officer, Urja Harsh Thakkar, has confirmed that the intimation is available on the company's website at www.veefin.com . This regulatory approval represents a significant step in Veefin Solutions' corporate restructuring initiative, subject to final NCLT approval and compliance with all specified conditions.

Veefin Solutions Limited has disclosed its investor presentation for the Investor Conference organized by Valorem Advisors, scheduled for March 23, 2026, at Grand Hyatt-Kalina, Mumbai. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Company Overview and Global Presence

The presentation positions Veefin Solutions as a global transaction banking software platform that has been shaping the future of banking and lending since 2018. The company has achieved significant scale with key performance metrics demonstrating its market position:

Veefin operates across diverse geographical markets including India, Southeast Asia, Middle East, Africa, and other emerging markets. The company serves major financial institutions including HSBC, YES Bank, DBS Bank, IndusInd Bank, and various other banks across different countries.

Comprehensive Product Portfolio

The company offers a complete product suite for banking and financial institutions, structured across multiple layers:

Experience Layer:

• Corporate Internet Banking
• Retail Internet Banking

Core Solutions:

• Transaction Banking (Trade Finance, Supply Chain Finance, Cash Management, Liquidity Management)
• Digital Lending (Loan Origination System, Loan Management System, Debt Collections, Guarantee Management System)
• Ecosystems (Multi-lender Working Capital Marketplace, Asset Distribution Platform, TredX)

Technology Infrastructure:

• Credit Risk & Intelligence Layer
• Data Tools & AI Fabric
• Business Rules Engine and Fraud & Risk API Suite

Market Opportunity and Pipeline

The presentation outlines substantial market opportunities in the global banking technology platforms sector:

Veefin has developed a qualified deal pipeline comprising 50 deals worth USD 61 million. The pipeline distribution shows geographic diversification with India and South Asia representing 41.6%, Southeast Asia 36%, GCC 14.6%, and Africa 7.8%. Product-wise, the pipeline demonstrates strong diversification beyond Supply Chain Finance, with 78% representing non-SCF products.

PSB Xchange Platform Development

The company has developed PSB Xchange, described as a national scale platform for SCF, Trade, and SME financing. The platform shows increasing adoption with operational metrics including:

• 3 live lender integrations with 3 in progress and 15 agreements under process
• Approximately 80 corporate deal workflows initiated
• Around 12,000 limit requirements processed
• About 4,000 approved limits across 19 anchor corporates
• 5 live sourcing partner integrations with 8 in progress

Financial Performance Highlights

The presentation includes historical financial data showing growth trajectory:

Standalone Performance (9M-FY26):

Consolidated Performance (9M-FY26):

Leadership and Strategic Direction

The presentation highlights the company's leadership depth with 14 senior leaders representing over 300+ years of BFSI and product experience. Key leadership positions include Chairman and MD Raja Debnath, COO Gautam Udani, and other executives with extensive experience at major financial institutions and technology companies.

The company positions itself as addressing a highly concentrated transaction banking market dominated by legacy vendors, with most platforms built 15-30 years ago. Veefin aims to capitalize on the industry's modernization phase driven by digital banking adoption, API-based ecosystems, and cloud infrastructure adoption.