VEEGALAND DEVELOPERS LIMITED IPO — Subscription & GMP
- Price band
- ₹130 – ₹140
- Lot size
- 107
- Issue size
- ₹210 Cr
- Bidding
- 10 Sept 2026 → 15 Sept 2026
- Allotment
- —
- Listing
- 18 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 5.0 percentage points in the buyer’s favour — it implied +5.00% and the issue listed +10.00%. Counted in our running GMP accuracy record.
Schedule
- 10 Sept 2026IPO open date
- 15 Sept 2026IPO close date
- 16 Sept 2026Allotment date†
- 16 Sept 2026Funds unblock or debit†
- 18 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsVeegaland Developers Limited - Business Model Summary
Veegaland Developers Limited operates as a residential real estate development company specializing in the planning, construction, and marketing of multi-storied apartment projects. Operating primarily across key urban markets in Kerala (such as Kochi, Thiruvananthapuram, Kozhikode, and Thrissur), the company develops properties under the Veegaland Homes brand across mid-premium, luxury, and ultra-luxury segments.
Core Segments & Operational Model
1. Flexible Land Sourcing Strategy: - Outright Land Acquisition: Purchases freehold land parcels directly to develop exclusive residential projects. - Joint Development Agreements (JDAs): Partners with landowners under an asset-light model where landowners contribute property in exchange for an agreed-upon share of the final saleable area, minimizing upfront capital expenditure.
2. Asset-Light Execution & Outsourcing: - Retains internal oversight over project feasibility, master planning, regulatory compliance, quality monitoring, and client coordination. - Outsources physical construction to independent third-party civil contractors and hires external architectural, structural engineering, and MEP (Mechanical, Electrical, and Plumbing) consultants.
Revenue Streams
- Residential Apartment Sales: Generates revenue by pre-selling and selling residential units, apartments, and boutique flats to retail buyers and homebuyers across various pricing segments.
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹8.77 | — |
| P/E ratio | 15.96× | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 45 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 842 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 32.31 L | 4.90 Cr | 15.18× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 48.76 L | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 7.16 L | — |
| 1(c)Mutual funds | — | 0 | — |
| 2Non Institutional Investors | 24.23 L | 3.31 Cr | 13.65× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 16.15 L | 2.15 Cr | 13.29× |
| 2.1(c)Others | — | 15.55 L | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 8.08 L | 1.16 Cr | 14.38× |
| 2.2(a)Corporates | — | 85,172 | — |
| 2.2(b)Individuals(Other than RIIs) | — | 1.10 Cr | — |
| 3Retail Individual Investors(RIIs) | 56.54 L | 3.78 Cr | 6.68× |
| 3(a)Cut Off | — | 3.31 Cr | — |
| 3(b)Price bids | — | 47.09 L | — |
| Total | 1.13 Cr | 11.99 Cr | 10.61× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹130 → ₹140 · peak 15.34 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
Anchor allocation report (NSE)
The allocation table for this issue could not be read reliably from the filing, so nothing is reproduced here.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹130 – ₹140
- Lot size
- 107 shares
- Min. bid quantity
- 107
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 1.13 Cr
- Issue size
- ₹210 Cr
- Offer structure
- 100% fresh equity — all proceeds to the company
- Max bid · QIB
- 1.13 Cr
- Max bid · NII
- 80.77 L
Timeline & process
- Bidding opens
- 10 Sept 2026
- Bidding closes
- 15 Sept 2026
- Bidding hours
- 10.00 am to 5.00 pm
- UPI mandate cutoff
- 15 th September 2026 (Upto 5.00 Pm)
- Allotment
- —
- Listing
- 18 Sept 2026
Intermediaries
- Registrar
- MUFG Intime India Private Limited
- Sponsor bank
- AXIS BANK
- Lead managers
- Cumulative Capital Private Limited