Veefin Solutions Unveils Major Amalgamation Strategy, Promoters Relinquish Shares to Boost Growth

Veefin Solutions Limited plans a merger with its subsidiaries, GlobeTF and Estorifi, while promoters relinquish shares to align interests with minority shareholders. This move aims to fortify governance, enhance operational scale, and position Veefin for growth in fintech innovations.

Veefin Solutions Limited, a key player in the fintech sector, announced a significant corporate strategy involving its subsidiaries, GlobeTF Solutions Limited and Estorifi Solutions Limited. The merger, pending requisite approvals, aims to streamline operations and integrate capabilities under a single entity, Veefin.

In a notable gesture of goodwill and confidence in the company's future, the promoters of Veefin have agreed to forgo approximately 21 lakh shares valued at ₹83 crores. This move underscores a commitment to robust governance and aligns the interests of minority shareholders with the company's strategic objectives.

The amalgamation is set to enhance Veefin's operational efficiency and broaden its financial capabilities. Raja Debnath, Chairperson and Managing Director, emphasized the benefits of unifying their platforms to foster innovation and enhance customer value. Co-Founder & COO, Gautam Udani, highlighted the importance of equitable value distribution among stakeholders. Veefin's strategic realignment reflects its dedication to shared growth and sustainable expansion in the fintech landscape.

(With inputs from agencies.)