Veegaland Developers' Rs 210-crore IPO was subscribed 0.7 times so far, as the issue entered its second day of bidding on September 11. The latest grey market premium (GMP) of Rs 25 indicates a potential 17.86% listing gain over the upper price band of Rs 140.
Veegaland Developers IPO GMP Today
The latest grey market premium (GMP) for the Veegaland Developers IPO stood at Rs 25 as of 9:30 a.m. on September 11, according to market indications.
With the IPO's upper price band fixed at Rs 140 per share, the implied listing price based on the current GMP is Rs 165. This represents a potential 17.86% listing gain over the upper issue price.
Note: Grey market premiums are unofficial and may not accurately reflect the stock's actual listing performance.
Veegaland Developers IPO Day 2 Subscription Status
The IPO has been subscribed 0.70 times as of 10:15 a.m. on Friday, Sept. 11, Day 2 of bidding.
- Qualified Institutional Buyers (QIBs): 0.45 times
- Non-Institutional Investors (NIIs): 0.41 times
- Retail Individual Investors (RIIs): 0.96 times
Veegaland Developers IPO: Key Details
The Veegaland Developers IPO is a book-built issue worth Rs 210 crore. The issue consists entirely of a fresh issue of 1.50 crore shares, aggregating to Rs 210 crore.
The price band has been fixed at Rs 130 to Rs 140 per share.
Retail investors can bid for a minimum of 107 shares, making the minimum investment at the upper price band Rs 14,980.
Veegaland Developers IPO key details:
- IPO size: Rs 210 crore
- Issue type: Fresh issue
- Fresh issue: 1.50 crore shares
- Price band: Rs 130-Rs 140 per share
- Lot size: 107 shares
- Minimum retail investment: Rs 14,980
- Book running lead manager: Cumulative Capital Pvt. Ltd.
- Registrar: MUFG Intime India Pvt. Ltd.
For more details on the IPO, check the red herring prospectus here: Veegaland Developers RHP.
Veegaland Developers IPO Important Dates
The Veegaland Developers IPO opened for subscription on September 10 and will close on September 15. The allotment is expected to be finalised on September 16, while the shares are scheduled to be listed on September 18.
- 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
Veegaland Developers IPO: Use Of Proceeds
Veegaland Developers plans to use a portion of the net IPO proceeds to fund expenses related to the development of its ongoing and upcoming projects. Around Rs 119.83 crore has been earmarked for this purpose.
The remaining proceeds will be used for the acquisition of unidentified land parcels and general corporate purposes.
Veegaland Developers IPO: Financial Performance
Veegaland Developers reported growth in both revenue and profit in FY26 compared with the previous financial year.
The company's total income increased to Rs 254.16 crore in FY26 from Rs 196.22 crore in FY25, representing a growth of 29.53%.
Its profit after tax (PAT) rose to Rs 26.61 crore from Rs 20.43 crore, an increase of 30.25%.
The company's EBITDA stood at Rs 42.64 crore in FY26, compared with Rs 33.77 crore in FY25.
| Financial metric | FY26 | FY25 |
| Total income | Rs 254.16 crore | Rs 196.22 crore |
| PAT | Rs 26.61 crore | Rs 20.43 crore |
| EBITDA | Rs 42.64 crore | Rs 33.77 crore |
About Veegaland Developers Ltd.
Incorporated in 2007, Veegaland Developers Ltd. is a real estate development company focused on residential, commercial and mixed-use projects.
The company is involved in the planning, construction and execution of property developments, with its portfolio comprising residential projects, commercial developments and integrated projects.
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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