Veegaland Developers Shares List at 10% Premium on NSE
Veegaland Developers made its stock market debut on Friday, September 18, 2026, with its shares listing at a 10% premium on the NSE. The stock opened at ₹154 apiece on the NSE against its IPO issue price of ₹140 per share. On the BSE, the shares debuted at ₹151 per share, representing a 7.86% premium over the issue price.
The company’s ₹210.00 crore IPO was open for subscription from September 10 to September 15, 2026, and witnessed modest investor interest. The issue was subscribed 14.60 times by the end of the bidding period.
Veegaland Developers IPO - Issue Details
- Issue Type: Book Built Issue (Fresh Issue only)
- Total Issue Size: Up to ₹210.00 crore
- Fresh Issue: Up to ₹210.00 crore
- Offer for Sale (OFS): Not Applicable
- Face Value: ₹10 per equity share
- Price Band: ₹130 to ₹140 per share
- Lot Size: 107 shares
- Minimum Investment Amount (Retail Investor): ₹14,980 (107 shares at the upper price)
- Listing: BSE, NSE
- Book Running Lead Managers: Cumulative Capital Private Limited
- Registrar: MUFG Intime India Private Limited
Explore other Upcoming IPOs on BSE and NSE.
Veegaland Developers IPO Overall Subscription Status
[September 15, 2026, 7:00 P.M.]
|
Category |
Subscription (x) |
|
Qualified Institutional Buyers (QIBs) |
19.93x |
|
Non-Institutional Investors (NIIs) |
18.59x |
|
Retail Individual Investors (RIIs) |
9.95x |
|
Total |
14.60x |
Utilisation of IPO Proceeds
The company intends to utilise the net proceeds from the fresh issue towards:
- Funding a part of the expense to be incurred in the development of its ongoing projects
- Funding unidentified acquisition of land and
- General corporate purposes.
About Veegaland Developers Limited
Incorporated in 2007, Veegaland Developers Limited is a Kerala-based real estate company engaged in residential and mixed-use developments. Part of the V-Guard Group, the company develops housing projects catering to homebuyers across Kerala.
Its portfolio comprises apartments, villas, and integrated residential communities. As of June 30, 2026, the company had completed 10 projects, with 12 projects under development and 3 more in the pipeline. It had 127 full-time employees as of the same date.
Key Financial Highlights
|
Particulars |
FY26 (in ₹ crore) |
FY25 (in ₹ crore) |
FY24 (in ₹ crore) |
|
Revenue from operations |
250.98 |
192.38 |
110.77 |
|
EBITDA |
42.64 |
33.77 |
16.72 |
|
Profit After Tax (PAT) |
26.62 |
20.43 |
7.88 |
Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.
To read the RA disclaimer, please click here.