Veegaland Developers IPO price band: The Veegaland Developers Limited IPO price band has been fixed in the range of ₹130 to ₹140 per equity share of the face value of ₹10. The Veegaland Developers IPO date of subscription is scheduled for Thursday, 10 September and will close on Tuesday, 15 September. The allocation to anchor investors for the Veegaland Developers IPO is scheduled to take place on Wednesday, 9 September.
The Veegaland Developers IPO lot size is 107 equity shares and in multiples of 107 equity shares thereafter.
Veegaland Developers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Veegaland Developers IPO basis of allotment of shares will be finalised on Wednesday, 16 September and the company will initiate refunds on Thursday, 17 September, while the shares will be credited to the demat account of allottees on the same day following refund. Veegaland Developers share price is likely to be listed on BSE and NSE on Friday, 18 September.
Veegaland Developers IPO GMP today, or grey market premium, is +14. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Veegaland Developers share price was indicated at ₹154 apiece, which is 10% higher than the IPO price of ₹140.
Veegaland Developers IPO details
Veegaland Developers, part of the V-Guard Group, plans to raise ₹210 crore through a fresh issue of equity shares. The proposed IPO will not have any offer-for-sale (OFS) component.
The company plans to deploy the IPO proceeds towards funding its ongoing and upcoming real estate projects and acquiring identified land parcels for residential development.
Cumulative Capital Pvt. Ltd has been appointed as the book-running lead manager, while MUFG Intime India Pvt. Ltd will act as the registrar to the issue.
Company details
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.
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 per the red herring prospectus (RHP), the company’s listed peers are Shriram Properties (with a P/E of 12.91), and Puravankara (with a P/E of 84.24).
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