Veegaland Developers IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Retail)
₹14,980
1 lot · 107 shares at the upper price band
Price band
₹130–140
Latest GMP
₹22
+15.7% of the ₹140 upper band
Est. listing price
₹164
Issue size
₹210 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 11 Sept 2026, 5:03 pm | ₹22 | ₹164 |
| 11 Sept 2026, 5:01 pm | ₹24 | ₹164 |
| 11 Sept 2026, 12:50 pm | ₹22 | ₹164 |
| 11 Sept 2026, 12:49 pm | ₹24 | ₹164 |
| 11 Sept 2026, 8:05 am | ₹17 | ₹164 |
| 11 Sept 2026, 8:03 am | ₹24 | ₹164 |
| 11 Sept 2026, 7:00 am | ₹17 | ₹164 |
| 11 Sept 2026, 6:55 am | ₹24 | ₹164 |
| 11 Sept 2026, 6:50 am | ₹24 | ₹164 |
| 11 Sept 2026, 6:28 am | ₹24 | ₹164 |
| 10 Sept 2026, 6:17 pm | ₹24 | ₹164 |
| 10 Sept 2026, 5:37 pm | ₹25 | ₹164 |
| 10 Sept 2026, 5:30 pm | ₹24 | ₹164 |
| 10 Sept 2026, 5:00 pm | ₹25 | ₹164 |
| 10 Sept 2026, 4:59 pm | ₹24 | ₹164 |
| 10 Sept 2026, 12:56 pm | ₹25 | ₹164 |
| 10 Sept 2026, 12:55 pm | ₹24 | ₹164 |
| 10 Sept 2026, 11:20 am | ₹25 | ₹164 |
| 10 Sept 2026, 8:08 am | ₹24 | ₹164 |
| 10 Sept 2026, 6:13 am | ₹24 | ₹164 |
| 10 Sept 2026, 6:10 am | ₹24 | ₹164 |
| 10 Sept 2026, 6:09 am | ₹24 | ₹164 |
| 9 Sept 2026, 5:09 pm | ₹30 | ₹170 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹130–140
- Issue size
- ₹210 Cr
- Lot size
- 107
- Opens
- 10 Sept 2026
- Closes
- 15 Sept 2026
- Allotment
- 16 Sept 2026
- Listing
- 18 Sept 2026
- Est. listing price
- ₹164
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- MUFG Intime India Pvt.Ltd.
- Minimum investment
- ₹14,980 (1 lot · 107 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Fresh issue
- ₹210 Cr
- Listing at
- BSE, NSE
- Refunds
- 17 Sept 2026
- Shares credited
- 17 Sept 2026
- Promoter holding
- 92% before · 63.69% after
- Lead managers
- Cumulative Capital Pvt.Ltd.
Offer documents & links
Subscription by category
As of 11 Sept 2026, 11:39 am.
Total subscription
1.25x
Full issue details
Details as published for this issue, read 11 Sept 2026, 5:10 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 10 to 15 Sep, 2026 |
|---|---|
| Listing Date | Fri, Sep 18, 2026 T |
| Face Value | ₹ 10 per share |
| Price Band | ₹130 to ₹140 |
| Lot Size | 107 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,50,00,000 shares (agg. up to ₹ 210 Cr) |
|---|---|
| Fresh Issue | 1,50,00,000 shares (agg. up to ₹ 210 Cr) |
| Share Holding Pre Issue | 3,37,50,000 shares |
| Share Holding Post Issue | 4,87,50,000 shares |
IPO Timetable (Tentative)
- IPO Open
- Thu, Sep 10, 2026
- IPO Close
- Tue, Sep 15, 2026
- Allotment
- Wed, Sep 16, 2026
- Refund
- Thu, Sep 17, 2026
- Credit of Shares
- Thu, Sep 17, 2026
- Listing
- Fri, Sep 18, 2026
Issue Reservation
| Investor Category | Shares | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB | 75,00,000 | 50.00% | NA |
| - Anchor Investor | 45,00,000 | 30.00% | NA |
| - QIB (Ex. Anchor) | 30,00,000 | 20.00% | NA |
| NII (HNI) | 22,50,000 | 15.00% | NA |
| - bNII > ₹10L | 15,00,000 | 10.00% | 1,001 |
| - sNII < ₹10L | 7,50,000 | 5.00% | 500 |
| Retail | 52,50,000 | 35.00% | 49,065 |
| Total | 1,50,00,000 | 100.00% | — |
Veegaland Developers IPO comprises a total issue size of 1,50,00,000 shares. Out of which, 75,00,000 (50.00%) are allocated to QIB , 22,50,000 (15.00%) allocated to NII 52,50,000 (35.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,980 |
| Retail (Max) | 13 | 1391 | ₹1,94,740 |
| S-HNI (Min) | 14 | 1498 | ₹2,09,720 |
| S-HNI (Max) | 66 | 7062 | ₹9,88,680 |
| B-HNI (Min) | 67 | 7169 | ₹10,03,660 |
Investors can bid for a minimum of 107 shares and in multiples thereof.
IPO Subscription Details
IPO Anchor Investors
| Bid Date | Wed, Sep 9, 2026 |
|---|---|
| Shares Offered | 45,00,000 |
| Anchor Portion (₹ Cr.) | 63.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 16, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 15, 2026 |
Veegaland Developers IPO raises ₹ 63.00 crore from anchor investors . Veegaland Developers IPO Anchor bid date is September 9, 2026 .
📝 Anchor Investors Letter (PDF)
IPO Anchor Investors List
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. The company emphasizes quality construction, modern design, and timely project delivery. Its portfolio typically includes housing projects, commercial complexes, and integrated developments catering to diverse customer segments.
Their business projects can be classified into the following categories based on the nature and description of each project:
Completed Projects: 10 Completed Projects
Ongoing Projects: 12 Ongoing Projects
Upcoming Projects: 3 Upcoming
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.
As of June 30, 2026, The Company has completed 10 residential projects aggregating to 11.05 lakh square feet of saleable area. These comprised of 692 units (including 43 units allocated to landowners under JDAs).
As of June 30, 2026, the company had employed 127 full-time employees.
Competitive Strengths:
Established track record of timely completion and sales absorption across completed and ongoing projects
Integrated land source approach and balanced multi-stage development portfolio
Integrated and process-driven development model covering the entire project lifecycle
Experienced Promoters and competent management team supported by strong in-house functional capabilities
Company Financials (Restated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 483.81 | 326.65 | 221.01 |
| Total Income | 254.16 | 196.22 | 114.61 |
| Profit After Tax | 26.61 | 20.43 | 7.87 |
| EBITDA | 42.64 | 33.77 | 16.72 |
| NET Worth | 266.90 | 65.44 | 45.07 |
| Reserves and Surplus | 233.15 | 60.44 | 40.07 |
| Total Borrowing | 85.59 | 176.97 | 120.23 |
| Amount in ₹ Crore |
Veegaland Developers Ltd.'s revenue increased by 30% and profit after tax (PAT) rose by 30% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Residential, Commercial Projects
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|---|---|---|---|---|---|---|---|
| Horizon Industrial Parks Ltd. | Mainboard | ₹2,600.00 Cr | ₹60 | -72.29 | ₹58.16 | -3.07% | ₹55.55 |
View More »
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects | 119.83 |
| 2 | Funding unidentified acquisition of land and general corporate purposes | — |
| Total | 119.83 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 16.02% |
| ROCE | 11.89% |
| Debt/Equity | 0.32 |
| RoNW | 16.02% |
| PAT Margin | 10.47% |
| EBITDA Margin | 16.78% |
| NAV | 79.08 |
| Price to Book Value | 1.77 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 7.89 | 5.46 |
| P/E (x) | 17.74 | 25.64 |
| Market Cap at Offer Price | ₹472.50 Cr. | ₹682.50 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 92% | 63.69% |
| Public | 8.00% | 36.31% |
| Total | 100% | 100% |
Company Promoters: Kochouseph Thomas Chittilappilly and K.Chittilappilly Trust.
Veegaland Developers IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 8 | 0 | 2 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
MUFG Intime India Pvt.Ltd.
022-49186000
veegalanddevelopers.ipo@in.mpms.mufg.com
IPO Lead Manager(s)
Cumulative Capital Pvt.Ltd.
Contact Details
Veegaland Developers Ltd. Address
XXXV/564, 4th Floor,
K C F Tower, Bharat Matha College Road,
Kakkanadu, Thrikkakara,
Ernakulam, Kerala , 682021
+91 484 258 4000
cs@veegaland.in
Veegaland Developers IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Veegaland Developers IPO Day 2 Subscription Status: 1.24x
HDFC Sky · 11 Sept 2026
Veegaland Developers IPO fully subscribed on Day 2; check latest GMP
Moneycontrol.com · 11 Sept 2026
Veegaland Developers IPO Day 2: Subscribed 1.10x; Retail surges to 1.56x
scanx.trade · 11 Sept 2026
Veegaland Developers IPO Day 2 Subscription Status 11 Sep 2026
Univest · 11 Sept 2026
Veegaland Developers IPO GMP Today: Grey Market Signals 17.86% Listing Gain As Day 2 Begins
NDTV Profit · 11 Sept 2026
Veegaland Developers IPO Day 2: GMP signals 18% listing gains — Should you subscribe?
The Economic Times · 11 Sept 2026
Veegaland Developers IPO Day 1 Subscription Status: Issue Subscribed 0.67 Times
HDFC Sky · 10 Sept 2026
Veegaland Developers IPO Day 1: Issue subscribed 0.62x; Should you apply?
financialexpress.com · 10 Sept 2026
