Veegaland Developers IPO
Veegaland Developers IPO is a mainboard book-building IPO with a total issue size of ₹210 crore. The issue consists entirely of a fresh issue of 1.50 crore shares.
The IPO will open for subscription on 10 September 2026 and close on 15 September 2026. The IPO is proposed to be listed on both NSE and BSE.
The price band has been fixed at ₹130 to ₹140 per share. The minimum application size is 107 shares, requiring a minimum retail investment of ₹14,980 at the upper price band.
Veegaland Developers IPO Details
Veegaland Developers IPO is a ₹210 crore book-building issue. The public issue is entirely a fresh issue, with the company offering 1,50,00,000 equity shares.
The IPO price band is fixed at ₹130 to ₹140 per share. Investors can bid for a minimum of 107 shares and in multiples of 107 shares thereafter.
At the upper price band of ₹140, one retail application requires an investment of ₹14,980.
Cumulative Capital Pvt. Ltd. is the Book Running Lead Manager of the issue, while MUFG Intime India Pvt. Ltd. is the IPO registrar.
Veegaland Developers IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | 10 September 2026 |
| IPO Close Date | 15 September 2026 |
| IPO Size | ₹210 Crore |
| Price Band | ₹130 to ₹140 per share |
| Face Value | ₹10 per share |
| Lot Size | 107 Shares |
| Issue Type | Book Building |
| Issue Structure | Fresh Issue Only |
| Total Issue Shares | 1,50,00,000 Shares |
| Listing Exchange | NSE and BSE |
| Market Cap at Upper Band | ₹682.50 Crore |
| Expected Allotment | 16 September 2026 |
| Tentative Listing Date | 18 September 2026 |
Veegaland Developers IPO Issue Size
| Issue Component | Shares | Approx. Amount |
|---|---|---|
| Total Issue | 1,50,00,000 | Up to ₹210 Crore |
| Fresh Issue | 1,50,00,000 | Up to ₹210 Crore |
| Offer for Sale | Nil | Nil |
Veegaland Developers IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Thursday, 10 September 2026 |
| IPO Closes | Tuesday, 15 September 2026 |
| Allotment | Wednesday, 16 September 2026 |
| Refund Initiation | Thursday, 17 September 2026 |
| Shares Credited to Demat | Thursday, 17 September 2026 |
| Listing | Friday, 18 September 2026 |
Veegaland Developers IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 50% of the Net Issue |
| Retail Investors | Not less than 35% of the Net Issue |
| Non-Institutional Investors (NII) | Not less than 15% of the Net Issue |
Veegaland Developers IPO Lot Size
The minimum application size for the Veegaland Developers IPO is 107 shares. Investors can submit bids in multiples of the specified lot size.
| Investor | Lots | Shares | Investment at ₹140 |
|---|---|---|---|
| Retail Minimum | 1 | 107 | ₹14,980 |
| Retail Maximum | 13 | 1,391 | ₹1,94,740 |
| S-HNI Minimum | 14 | 1,498 | ₹2,09,720 |
| S-HNI Maximum | 66 | 7,062 | ₹9,88,680 |
| B-HNI Minimum | 67 | 7,169 | ₹10,03,660 |
About Veegaland Developers Ltd.
Veegaland Developers Limited is a real estate development company incorporated in 2007. The company is involved in developing residential, commercial and mixed-use properties.
Its activities cover several stages of real estate development, including planning, construction and execution of projects. The company focuses on delivering properties with an emphasis on construction quality, contemporary design and project execution.
As of 30 June 2026, Veegaland Developers had completed 10 residential projects covering approximately 11.05 lakh square feet of saleable area.
These completed projects comprised 692 units, including 43 units allocated to landowners under joint development arrangements.
The company’s project portfolio also included 12 ongoing projects and 3 upcoming projects as of 30 June 2026.
The company had 127 full-time employees as of 30 June 2026.
Veegaland Developers Business Strengths
- Track record of completing residential projects and achieving sales absorption.
- Diversified portfolio covering completed, ongoing and upcoming developments.
- Integrated approach to land sourcing and project development.
- Process-driven execution covering multiple stages of the project lifecycle.
- Experience in residential, commercial and mixed-use development.
- Experienced promoters and management team.
- In-house functional capabilities supporting project execution.
Veegaland Developers Financial Performance
Veegaland Developers reported improvement in both income and profitability in FY2026 compared with FY2025. Total income increased to ₹254.16 crore, while profit after tax reached ₹26.61 crore.
| Particulars (₹ Crore) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| 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 |
| Total Borrowings | 85.59 | 176.97 | 120.23 |
| Total Assets | 483.81 | 326.65 | 221.01 |
Veegaland Developers IPO Objects of the Issue
The company intends to use the net proceeds of the IPO primarily for development activities associated with its ongoing and upcoming projects. A portion of the proceeds is also proposed to be used for future land acquisition and general corporate requirements.
| No. | Use of IPO Funds | Estimated Amount |
|---|---|---|
| 1 | Funding part of the expenses related to the development of ongoing and upcoming projects. | ₹119.83 Cr |
| 2 | Funding unidentified land acquisition and general corporate purposes. | Balance Amount |
| Total Identified Amount | ₹119.83 Cr | |
Veegaland Developers IPO Key Performance Indicators
| KPI | 31 Mar 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 | 1.77x |
Veegaland Developers IPO Valuation
Based on the upper IPO price of ₹140 per share, the estimated post-issue market capitalization of Veegaland Developers is approximately ₹682.50 crore.
| Valuation | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | ₹7.89 | ₹5.46 |
| P/E | 17.74x | 25.64x |
| Market Capitalisation | ₹473 Cr | ₹682.50 Cr |
Veegaland Developers Shareholding Pattern
| Category | Pre-IPO | Post-IPO |
|---|---|---|
| Promoter & Promoter Group | 92.00% | 63.69% |
| Public | 8.00% | 36.31% |
| Total | 100% | 100% |
Company Promoters: Kochouseph Thomas Chittilappilly and K. Chittilappilly Trust.
Veegaland Developers IPO Fresh Issue
The Veegaland Developers IPO does not include an Offer for Sale. The entire public issue consists of fresh equity shares issued by the company.
| Issue Type | Shares Offered | Amount |
|---|---|---|
| Fresh Issue | 1,50,00,000 Shares | Up to ₹210 Cr |
| Offer for Sale | Nil | Nil |
Veegaland Developers IPO Registrar & Lead Manager
IPO Registrar: MUFG Intime India Pvt. Ltd.
Book Running Lead Manager:
- Cumulative Capital Pvt. Ltd.
Veegaland Developers Ltd. Contact Details
Registered Office:
XXXV/564, 4th Floor,
K C F Tower, Bharat Matha College Road,
Kakkanadu, Thrikkakara,
Ernakulam, Kerala – 682021
Phone: +91 484 258 4000
Email: cs@veegaland.in
Veegaland Developers IPO Quick Summary
Veegaland Developers IPO is a ₹210 crore mainboard book-building issue opening from 10 September to 15 September 2026.
The IPO price band is ₹130 to ₹140 per share and the lot size is 107 shares. At the upper price band, retail investors need ₹14,980 for one lot.
The issue is entirely a fresh issue of 1.50 crore shares. The tentative allotment date is 16 September 2026, while the proposed listing date is 18 September 2026 on NSE and BSE.
Veegaland Developers IPO FAQs
Disclaimer
This article is provided for educational and informational purposes only. IPO investments are subject to market risks. Investors should carefully review the company’s Red Herring Prospectus (RHP), financial information and other official documents before making any investment decision.
