IPO details · Updated
Veegaland Developers Limited
- Price Band
- ₹130 – ₹140
- Lot Size
- 107 shares
- Min. Investment
- ₹14,980
- Issue Size
- ₹210 Cr
- Offer Dates
- 10 Sept – 15 Sept 2026
- Listing
- 18 Sept 2026
Issue Details
- Total Issue Size
- ₹210 Cr
- 1,50,00,000 shares
- Fresh Issue
- ₹210 Cr
- 1,50,00,000 shares
- Offer for Sale
- ₹0 Cr
- Face Value
- ₹10 per share
- Issue Type
- Book-built IPO
- Listing At
- BSE, NSE
- Shares Pre-Issue
- 3,37,50,000
- Shares Post-Issue
- 4,87,50,000
IPO Timeline
Offer opens
10 Sept 2026
Offer closes
15 Sept 2026
Allotment
16 Sept 2026
Listing
18 Sept 2026
Issue Allocation
Share of the offer reserved for each investor category
- Anchor30.0%45,00,000 shares
- QIB20.0%30,00,000 shares
- HNI15.0%22,50,000 shares
- Retail35.0%52,50,000 shares
Subscription Status
Times subscribed by investor category
| Category | Offered | Bids | Subscribed |
|---|---|---|---|
| QIB | 30,00,000 | 5,73,83,779 | 19.13x |
| NII | 22,50,000 | 4,36,76,009 | 19.41x |
| Retail | 52,50,000 | 5,22,14,609 | 9.95x |
| Total | 1,05,00,000 | 15,32,74,397 | 14.60x |
Lot Size & Investment
1 lot = 107 shares
Retail (min)
1 lot · 107 shares
Retail (max)
13 lots · 1,391 shares
S-HNI (min)
14 lots · 1,498 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 107 | ₹14,980 |
| Small HNI (S-HNI) | 14 | 1,498 | ₹2,09,720 |
| Big HNI (B-HNI) | 67 | 7,169 | ₹10,03,660 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| 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 | 266.9 | 65.44 | 45.07 |
| Reserves & Surplus | 233.15 | 60.44 | 40.07 |
| Total Borrowing | 85.59 | 176.97 | 120.23 |
Key Performance Indicators
| Period | Mar-26 |
|---|---|
| RoNW (%) | 16.02 |
| EPS (₹) | 7.89 |
| P/E (pre-issue) | 17.74 |
| P/E (post-issue) | 25.64 |
Peer Comparison
Listed companies in the same business
| Company | P/E | ROE |
|---|---|---|
| Shriram Properties | 12.91 | 7.16% |
| Puravankara | 84.24 | 3.23% |
About Veegaland Developers Limited
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
Objects of the Issue
- Funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects (₹119.83 Cr)
- Funding unidentified acquisition of land and general corporate purposes (₹68.86 Cr)
Promoters
- <p>Kochouseph Thomas Chittilappilly
- K.Chittilappilly Trust</p>
Company Information
- Book running lead managers
- Cumulative Capital Pvt.Ltd.
- Registered office
- XXXV/564, 4th Floor,, K C F Tower, Bharat Matha College Road,, Kakkanadu, Thrikkakara,, Ernakulam, Kerala, 682021
Official Documents
Opens the source filing in a new tab
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