GMP IPO Watch
Veegaland Developers IPO
Veegaland Developers IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Veegaland Developers IPO Details
Key facts at a glance| IPO Open Date | 9 September 2026 | IPO Close Date | 14 September 2026 |
|---|---|---|---|
| Basis of Allotment | 15 September 2026 | Listing Date | 17 September 2026 |
| Price Band | ₹130 - ₹140 per share | Face Value | ₹10 per share |
| Market Lot Size | 107 Shares | Min Investment (Retail) | ₹14,980 |
| Total Issue Size | ₹210 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹210 Cr | Offer for Sale (OFS) | — |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | MUFG Intime India Pvt. Ltd. | ||
Veegaland Developers IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 9 September 2026 | Confirmed |
| IPO Close Date | 14 September 2026 | Confirmed |
| Basis of Allotment | 15 September 2026 | Tentative |
| Initiation of Refunds | 17 September 2026 | Tentative |
| Credit of Shares to Demat | 17 September 2026 | Tentative |
| IPO Listing Date | 17 September 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 15 September 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Veegaland Developers IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 107 Shares | ₹14,980 |
| Retail (Max) | 13 Lots | 1,391 Shares | ₹1,94,740 |
| S-HNI (Min) | 14 Lots | 1,498 Shares | ₹2,09,720 |
| S-HNI (Max) | 66 Lots | 7,062 Shares | ₹9,88,680 |
| B-HNI (Min) | 67 Lots | 7,169 Shares | ₹10,03,660 |
Veegaland Developers IPO Live GMP & Movement History
Daily unofficial grey market trends₹9 +6.4%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 18 Sept 2026 | ₹9 | ₹149.00 | +6.43% |
| 17 Sept 2026 | ₹5 | ₹145.00 | +3.57% |
| 16 Sept 2026 | ₹10 | ₹150.00 | +7.14% |
| 15 Sept 2026 | ₹20 | ₹160.00 | +14.29% |
| 14 Sept 2026 | ₹22 | ₹162.00 | +15.71% |
| 11 Sept 2026 | ₹25 | ₹165.00 | +17.86% |
| 10 Sept 2026 | ₹24 | ₹164.00 | +17.14% |
| 7 Sept 2026 | ₹30 | ₹170.00 | +21.43% |
| 6 Sept 2026 | ₹22 | ₹162.00 | +15.71% |
Veegaland Developers IPO Subscription Status
Demand breakdown by investor categoryVeegaland Developers Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 | 221.01 Cr. | 114.61 Cr. | 103.39 Cr. | 7.87 Cr. |
| 2025 | 326.65 Cr. | 196.22 Cr. | 167.95 Cr. | 20.43 Cr. |
| 2026 | 483.81 Cr. | 254.16 Cr. | 217.96 Cr. | 26.61 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
Veegaland Developers IPO Valuation & KPIs
Key metrics pre-issueVeegaland Developers Peer Group Comparison
Listed industry peers| Company Name | P/E | EPS (₹) | RoNW (%) | NAV (₹) | Total Income |
|---|---|---|---|---|---|
| Shriram Properties Limited | 12.91 | 5.91 | 7.16% | 85.55 | 1,267.41 Cr. |
| Puravankara Limited | 84.24 | 2.69 | 3.23% | 75.37 | 3,739.83 Cr. |
About Veegaland Developers
Veegaland Developers is a real estate development company primarily focused on residential projects across urban micro-markets in Kerala, including Kochi, Thiruvananthapuram, Kozhikode, and Thrissur. The company undertakes the development, construction, design, and marketing of residential properties, predominantly catering to the premium, ultra-premium, and luxe segments. Its core business model involves acquiring land outright or through joint development arrangements with landowners to construct apartments and boutique flats. The company generates revenue through the sale of these residential units, with payments typically linked to construction milestones. Veegaland relies on third-party contractors and specialist agencies for the execution of civil construction, architectural design, and structural engineering. The project portfolio includes a mix of completed properties, ongoing construction sites, and upcoming developments, positioning the company to address demand for higher-value residential spaces in its operational regions.
Key Strengths
- Focuses on high-margin premium and luxe residential segments across Kerala.
- Benefits from the established brand trust and goodwill of the V-Guard Group.
- Utilizes a flexible, asset-light land acquisition strategy including joint developments.
- Maintains a robust pipeline of completed, ongoing, and upcoming urban projects.
- Uses professional management backed by digitalized Veega-NOVA ERP systems
Key Risks
- Business operations and market demand are concentrated entirely within Kerala.
- Relies heavily on third-party contractors for all project execution and construction.
- Revenues fluctuate significantly due to the milestone-linked nature of real estate.
- Highly exposed to price volatility and supply chain disruptions for building materials.
- Operations depend significantly on personal financial guarantees provided by the promoter.
Veegaland Developers IPO Reservation & Share Quotas
The Veegaland Developers IPO reservation structure divides the issue shares among qualified institutional buyers, non-institutional investors and retail investors. As per the provided details, the QIB category excluding the anchor portion is reserved for 50% of the shares, while NII investors receive 15% and retail investors receive 35%.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: Share quantities for the individual investor categories were not provided in the supplied IPO reservation data.
Veegaland Developers IPO Anchor Investors
Veegaland Developers IPO anchor bidding is scheduled for September 9, 2026, one day before the public issue opens. Anchor investors are typically allotted shares ahead of the IPO opening, providing an indication of institutional participation in the issue.
The anchor investor list, number of shares offered and anchor size will provide additional details about the institutional allocation. The supplied information currently shows placeholders for the share quantity and total anchor size, while the two applicable lock-in periods are specified separately.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 9, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – 50% Shares (90 Days) | 2026 |
Note: Anchor share quantity, issue value and lock-in end dates are shown as provided in the supplied IPO data.
Veegaland Developers IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 10 Sept 2026 |
| IPO Close Date | 15 Sept 2026 |
| Basis of Allotment | 16 Sept 2026 |
| Refunds | 17 Sept 2026 |
| Credit to Demat Account | 17 Sept 2026 |
| IPO Listing Date | 18 Sept 2026 |
Note: The timeline for ଭେଗାଲ୍ୟାଣ୍ଡ ଡେଭଲପର୍ସ IPO is tentative and subject to change.
Veegaland Developers Promoters and Shareholding Pattern
The promoters of Veegaland Developers are Kochouseph Thomas Chittilappilly and K. Chittilappilly Trust. Before the IPO, the promoter and promoter group held 92.00% of the company's shares, while the remaining 8.00% was held by others.
Following the IPO, the promoter and promoter group holding is expected to stand at 63.69%. The increase in shares held by other shareholders reflects the dilution resulting from the fresh issue, with the total post-IPO shareholding increasing to 4,87,50,000 shares.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 3,10,48,500 | 92.00% | 3,10,48,500 | 63.69% |
| Others* | 27,01,500 | 8.00% | 1,77,01,500 | 36.31% |
| Total | 3,37,50,000 | 100% | 4,87,50,000 | 100% |
Note: The holding pattern is based on the Veegaland Developers IPO shareholding data provided.
Veegaland Developers Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Funding a part of the expense in the development of Ongoing Projects | 119.83 (57.06%) |
| General corporate purposes | 90.17 (42.94%) |
Note: Objectives are as specified in the DRHP/RHP documents of ଭେଗାଲ୍ୟାଣ୍ଡ ଡେଭଲପର୍ସ.
Veegaland Developers About the IPO
Veegaland Developers, founded in 2007, is a real estate development firm that works on residential, commercial, and mixed-use projects. From planning and construction to modern design and timely execution of property developments, Veegaland Developers handles everything.
Its project portfolio includes housing projects, commercial complexes, and integrated developments serving a wide range of customers. So far, the firm has completed 10 residential projects aggregating to 11.05 lakh square feet of saleable area; 12 are ongoing projects, and 3 are upcoming ones. The company’s main aim is to build environmentally responsible properties, be useful, and provide good value to the customers.
Veegaland Developers Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 114.61 Cr. | 103.39 Cr. | 7.87 Cr. | 221.01 Cr. |
| 2025 | 196.22 Cr. | 167.95 Cr. | 20.43 Cr. | 326.65 Cr. |
| 2026 | 254.16 Cr. | 217.96 Cr. | 26.61 Cr. | 483.81 Cr. |
Note: Financial numbers for ଭେଗାଲ୍ୟାଣ୍ଡ ଡେଭଲପର୍ସ are in ₹ Crores unless stated otherwise.
Veegaland Developers Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 16.02% |
| ROCE | 11.89% |
| EBITDA Margin | 16.78% |
| PAT Margin | 10.47% |
| Debt to Equity Ratio | 0.32 |
| Earning Per Share (EPS) | 8.77 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 16.02% |
| Net Asset Value (NAV) | 79.08 |
Note: Valuation KPIs for ଭେଗାଲ୍ୟାଣ୍ଡ ଡେଭଲପର୍ସ are computed for FY2026.
Veegaland Developers Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Shriram Properties Limited | 5.91 | 12.91 | 7.16% | 85.55 | 1,267.41 Cr. |
| Puravankara Limited | 2.69 | 84.24 | 3.23% | 75.37 | 3,739.83 Cr. |
Note: Peer group comparisons for ଭେଗାଲ୍ୟାଣ୍ଡ ଡେଭଲପର୍ସ are sourced from DRHP filings.
Veegaland Developers Lead Managers & Merchant Bankers
- Cumulative Capital Pvt.Ltd.
Veegaland Developers IPO FAQs
Veegaland Developers IPO opens for subscription on 9 September 2026 and closes on 14 September 2026.
The price band for Veegaland Developers IPO is set at ₹130.00 to ₹140.00 per share.
The minimum market lot size is 107 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 107 Shares (₹14,980).
The latest Grey Market Premium (GMP) for Veegaland Developers IPO is ₹9. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Veegaland Developers IPO is tentatively scheduled for 15 September 2026, and shares are expected to list on the stock exchanges on 17 September 2026.
MUFG Intime India Pvt. Ltd. is the official registrar for Veegaland Developers IPO. Investors can check their IPO allotment status directly on the registrar's portal once finalized.