Multibagger from its 52-week low: This micro-cap IT-company expands its supply chain finance platform with a strategic stake in Regime Tax Solutions through its subsidiary

The company has a market cap of over Rs 700 crore with an ROE of 17 per cent and an ROCE of 22 per cent.

Today, shares of Veefin Solutions Ltd gained 1.88 per cent to Rs 319 per share with an intraday high of Rs 324 and an intraday low of Rs 306.25. The stock’s 52-week high is Rs 409.75 and its 52-week low is Rs 85.13.

In a major development for the supply chain finance (SCF) industry, Veefin, a leading player, has announced a strategic investment in Regime Tax Solutions. Regime is a Mumbai-based company specializing in advanced GST compliance and automation of accounts payable (AP) and receivable (AR) processes. This move will significantly enhance Veefin's existing SCF platform for banks and financial institutions.

Veefin will integrate Regime's two flagship solutions, Tax Genie and Pay Invoice, into its platform. Tax Genie is a prominent tool for automating GST compliance, while Pay Invoice facilitates invoice processing. This integration marks a first in the industry. Banks and financial institutions using Veefin's platform will now be able to offer clients a comprehensive SCF solution that incorporates GST compliance, invoice matching, and reconciliation. This will significantly improve the efficiency and effectiveness of SCF for corporates.

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Veefin Solutions Limited (Veefin) is a global leader in Digital Supply Chain Finance. Listed on BSE SME, the company is reimagining supply chain finance & digital lending through its white-labelled supply chain finance and lending solutions, including end-to-end lending stack, smart credit decisions, business intelligence, analytics & omnichannel onboarding for banks, financial institutions, fintech, b2b marketplaces and corporates. Incorporated in 2020, Veefin is headquartered in Mumbai with offices in Dhaka (Bangladesh), Ahmedabad, & Dubai.

The company has a market cap of over Rs 700 crore with an ROE of 17 per cent and an ROCE of 22 per cent. The stock gave multibagger returns of 275 per cent from its 52-week low of Rs 85.13 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.