Veegaland Developers' Rs 210-crore IPO opens for subscription on Sept. 10 and closes on Sept. 15. Ahead of the issue, the latest grey market premium (GMP) indicates a potential listing gain of 17.14%.
Note: Grey market premiums are unofficial and may not accurately reflect the stock's actual listing performance.
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Investors considering the Veegaland Developers IPO should keep these key details in mind before subscribing.
Veegaland Developers IPO GMP Today
The latest GMP for Veegaland Developers IPO stood at Rs 24 as of 7:30 a.m. on Sept. 10. With the upper price band of Rs 140, the IPO's implied listing price is Rs 164 (cap price + GMP). Based on the GMP, this implies a potential listing gain of 17.14% over the upper price band.
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Veegaland Developers IPO: Key Details
The IPO of Veegaland Developers is a book-build issue of Rs 210 crore. The issue comprises an entirely fresh issue of 1.50 crore shares aggregating to Rs 210 crore.
The price band for the IPO was set between Rs 130 and Rs 140 per share.
To participate in the IPO, retail investors must bid for at least a single lot of 107 shares. This means a minimum amount of investment required by an individual investor (retail) is Rs 14,980 (based on upper price).
Cumulative Capital Pvt. Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
For more details on the IPO, check the red herring prospectus here: Veegaland Developers RHP.
Veegaland Developers IPO Key Dates:
- Bidding window opens: Sept. 10
- Bidding window closes: Sept. 15
- Allotment finalisation: Sept. 16
- Refund initiation: Sept. 17
- Credit of Shares to Demat accounts: Sept. 17
- Listing date: Sept. 18
Use Of Proceeds
The company will use the net proceeds for funding a part of the expense to be incurred in the development of the ongoing projects and upcoming projects (Rs 119.83 crore).
The remaining proceeds will be used for the acquisition of unidentified land parcels and general corporate purposes.
Company Financials
Veegaland Developers' total income increased 29.53%, while its PAT rose 30.25% between FY25 and FY26.
For FY26, Veegaland Developers reported:
- Total income: Rs 254.16 crore, compared with Rs 196.22 crore in FY25
- Profit after tax (PAT): Rs 26.61 crore, up from Rs 20.43 crore in the previous financial year
- EBITDA: Rs 42.64 crore versus Rs 33.77 crore a year earlier
About Veegaland Developers Ltd.
Incorporated in 2007, Veegaland Developers Limited is engaged in real estate development, focusing on residential, commercial, and mixed-use projects. The company undertakes planning, construction, and execution of property developments.
Its portfolio typically includes housing projects, commercial complexes, and integrated developments catering to diverse customer segments.
Veegaland Developers Limited aims to create sustainable and value-driven properties by adopting efficient construction practices, customer-centric approaches, and compliance with regulatory standards in the real estate sector.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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