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    Veegaland Developers IPO

    Updated 24 Oct 2026, 6:50 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,980

    1 lot · 107 shares at the upper price band

    Price band

    ₹140

    Latest GMP

    ₹9

    +6.4% of the ₹140 upper band

    Est. listing price

    ₹149

    Issue size

    ₹210 Cr

    Listing price

    ₹154.00

    NSE VEEGALAND, special pre-open price

    Listing gain

    +10.0%

    Listing price against the issue price

    First-day close

    ₹146.30

    Since issue

    -9.5%

    ₹126.71 close, 23 Oct 2026

    As NSE lists it

    The exchange's own issue data, NSE symbol VEEGALAND · read 24 Oct 2026, 12:15 am

    Price band
    ₹130–140
    Bidding
    10 Sept 2026 – 15 Sept 2026
    Subscribed (NSE)
    —
    Shares offered
    —
    Listed
    18 Sept 2026
    Issue price
    ₹140

    NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.

    Allotment status

    Check it on the registrar's page or either exchange with your PAN or application number.

    1. Allotment finalised16 Sept 2026(done)
    2. Refunds start17 Sept 2026(done)
    3. Shares credited to demat17 Sept 2026(done)
    4. Listing18 Sept 2026(done)
    Check on MUFG Intime India Pvt.Ltd.Check on BSECheck on NSE

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    18 Sept 2026, 6:45 pm₹9₹149
    18 Sept 2026, 1:45 pm₹9₹149
    18 Sept 2026, 8:45 am₹9₹149
    17 Sept 2026, 6:45 pm₹5₹145
    17 Sept 2026, 1:45 pm₹5₹145
    17 Sept 2026, 8:45 am₹5₹145
    16 Sept 2026, 6:45 pm₹6₹146
    16 Sept 2026, 1:45 pm₹10₹150
    16 Sept 2026, 8:50 am₹10₹150
    16 Sept 2026, 8:45 am₹10₹150
    15 Sept 2026, 9:28 pm₹14₹160
    15 Sept 2026, 9:20 pm₹20₹160
    15 Sept 2026, 8:37 pm₹20₹160
    15 Sept 2026, 8:30 pm₹20₹160
    15 Sept 2026, 8:00 pm₹20₹160
    15 Sept 2026, 2:12 pm₹20₹160
    15 Sept 2026, 2:10 pm₹20₹160
    15 Sept 2026, 12:09 am₹18₹154
    15 Sept 2026, 12:08 am₹15₹154
    14 Sept 2026, 2:27 pm₹19₹154
    14 Sept 2026, 2:25 pm₹15₹154
    12 Sept 2026, 9:50 pm₹20₹164
    12 Sept 2026, 9:49 pm₹24₹164
    12 Sept 2026, 5:41 pm₹20₹164
    12 Sept 2026, 5:40 pm₹24₹164
    12 Sept 2026, 1:26 pm₹17₹164
    12 Sept 2026, 1:25 pm₹24₹164
    11 Sept 2026, 10:33 pm₹22₹164
    11 Sept 2026, 10:31 pm₹24₹164
    11 Sept 2026, 6:20 pm₹22₹164
    11 Sept 2026, 6:19 pm₹24₹164
    11 Sept 2026, 1:35 pm₹17₹164
    11 Sept 2026, 1:33 pm₹24₹164
    11 Sept 2026, 12:30 pm₹17₹164
    11 Sept 2026, 12:25 pm₹24₹164
    11 Sept 2026, 12:20 pm₹24₹164
    11 Sept 2026, 11:58 am₹24₹164
    10 Sept 2026, 11:47 pm₹24₹164
    10 Sept 2026, 11:07 pm₹25₹164
    10 Sept 2026, 11:00 pm₹24₹164
    10 Sept 2026, 10:30 pm₹25₹164
    10 Sept 2026, 10:29 pm₹24₹164
    10 Sept 2026, 6:26 pm₹25₹164
    10 Sept 2026, 6:25 pm₹24₹164
    10 Sept 2026, 4:50 pm₹25₹164
    10 Sept 2026, 1:38 pm₹24₹164
    10 Sept 2026, 11:43 am₹24₹164
    10 Sept 2026, 11:40 am₹24₹164
    10 Sept 2026, 11:39 am₹24₹164
    9 Sept 2026, 10:39 pm₹30₹170

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹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
    ₹149
    Listing price
    ₹154
    Listing gain
    +10.0%
    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

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 15 Sept 2026, 6:53 pm.

    Total subscription

    14.60x

    Qualified Institutional19.13×
    Non Institutional19.41×
    Retail Individual9.95×

    Full issue details

    Details as published for this issue, read 17 Sept 2026, 9:05 am. Verify against the RHP before applying.

    IPO Details

    IPO Date10 to 15 Sep, 2026
    Listing DateFri, Sep 18, 2026 (tentative)
    Face Value₹ 10 per share
    Price Band₹130 to ₹140
    Issue Price₹140 per share
    Lot Size107 Shares
    Sale TypeFresh capital only
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size1,50,00,000 shares (agg. up to ₹ 210 Cr)
    Fresh Issue1,50,00,000 shares (agg. up to ₹ 210 Cr)
    Share Holding Pre Issue3,37,50,000 shares
    Share Holding Post Issue4,87,50,000 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

    • QIB50.00%
    • NII (HNI)15.00%
    • Retail35.00%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Total IssueMax Allottees
    QIB75,00,00050.00%NA
    - Anchor Investor45,00,00030.00%NA
    - QIB (Ex. Anchor)30,00,00020.00%NA
    NII (HNI)22,50,00015.00%NA
    - bNII > ₹10L15,00,00010.00%1,001
    - sNII < ₹10L7,50,0005.00%500
    Retail52,50,00035.00%49,065
    Total1,50,00,000100.00%—

    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

    Retail (Min)₹14,980
    Retail (Max)₹1,94,740
    S-HNI (Min)₹2,09,720
    S-HNI (Max)₹9,88,680
    B-HNI (Min)₹10,03,660
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Retail (Min)1107₹14,980
    Retail (Max)131,391₹1,94,740
    S-HNI (Min)141,498₹2,09,720
    S-HNI (Max)667,062₹9,88,680
    B-HNI (Min)677,169₹10,03,660

    Investors can bid for a minimum of 107 shares and in multiples thereof.

    IPO Anchor Investors

    Bid DateWed, Sep 9, 2026
    Shares Offered45,00,000
    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)

    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)

    Total Income

    31 Mar 2024114.61
    31 Mar 2025196.22
    31 Mar 2026254.16

    Profit After Tax

    31 Mar 20247.87
    31 Mar 202520.43
    31 Mar 202626.61

    EBITDA

    31 Mar 202416.72
    31 Mar 202533.77
    31 Mar 202642.64

    NET Worth

    31 Mar 202445.07
    31 Mar 202565.44
    31 Mar 2026266.90
    Company Financials (Restated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets483.81326.65221.01
    Total Income254.16196.22114.61
    Profit After Tax26.6120.437.87
    EBITDA42.6433.7716.72
    NET Worth266.9065.4445.07
    Reserves and Surplus233.1560.4440.07
    Total Borrowing85.59176.97120.23
    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.

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    IPO Objects of the Issue

    #Issue ObjectsEst Amt (₹ Cr.)
    1Funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects119.83
    2Funding unidentified acquisition of land and general corporate purposes—
    Total119.83

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026
    ROE16.02%
    ROCE11.89%
    Debt/Equity0.32
    RoNW16.02%
    PAT Margin10.47%
    EBITDA Margin16.78%
    NAV79.08
    Price to Book Value1.77

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)7.895.46
    P/E (x)17.7425.64
    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

    Pre IPO

    • Promoter and Promoter Group92%
    • Public8.00%

    Post IPO

    • Promoter and Promoter Group63.69%
    • Public36.31%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group92%63.69%
    Public8.00%36.31%
    Total100%100%

    Company Promoters: Kochouseph Thomas Chittilappilly and K.Chittilappilly Trust.

    Veegaland Developers IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers8020
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)19.1330,00,0005,73,83,779
    NII19.4122,50,0004,36,76,009
    bNII (> ₹10L)18.5915,00,0002,78,82,274
    sNII (< ₹10L)21.067,50,0001,57,93,735
    Retail9.9552,50,0005,22,14,609
    Total14.601,05,00,00015,32,74,397

    The Veegaland Developers IPO is subscribed 14.60 times on September 15, 2026 6:53:35 PM (Day 3). The public issue subscribed 9.95 times in the retail category, 19.13 times in the QIB category, and 19.41 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 4,34,482

    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 Allotment Today: Issue subscribed 13.55x — How to check status on NSE, BSE & MUFG Intime India

    Zee Business · 16 Sept 2026

    Veegaland Developers IPO moves to allotment after final bidding day

    iNews Zoombangla · 16 Sept 2026

    Veegaland Developers IPO Allotment Today! Retail Odds At 1-in-7, Check Your Status Now

    IPO Central · 16 Sept 2026

    Veegaland Developers IPO ends with 13.55 times subscription

    Business Standard · 16 Sept 2026

    Veegaland Developers IPO allotment: How to check status online on MUFG Intime India, NSE, BSE

    Upstox · 16 Sept 2026

    Veegaland Developers IPO Allotment Status: Check Share Allocation

    HDFC Sky · 16 Sept 2026

    Veegaland Developers IPO Gets 13.55 Times Subscription as Investors Bet on Future Property Growth

    grihik.com · 16 Sept 2026

    Veegaland Developers IPO allotment likely today: GMP signals 7% listing gain. Here’s how to check status

    The Economic Times · 16 Sept 2026

    FAQ

    Veegaland Developers: common questions

    Answered from this issue's own record.

    The Veegaland Developers Mainboard IPO is priced at ₹140 per share, for an issue size of ₹210 crore.

    The issue opens on 10 Sept 2026 and closes on 15 Sept 2026, with listing expected on 18 Sept 2026.

    One lot is 107 shares, and applications must be in multiples of a lot. At the upper band that is ₹14,980 for one lot.

    Latest recorded subscription: QIB 19.13x, NII 19.41x, retail 9.95x (as of 24 Oct 2026).

    Veegaland Developers listed at ₹154 on 18 Sept 2026. That was a gain of 10.00% against the issue price.