Virtual Galaxy Infotech IPO Allotment Status: Check Latest GMP, Steps to Verify Status
Investors who participated in the Virtual Galaxy Infotech Initial Public Offering are poised for clarity today, May 15, as the finalisation of share allotments is underway. The IPO, which closed on May 14, attracted an unprecedented level of interest, recording an overall subscription of 231.45 times. This overwhelming demand underscores significant market confidence in the IT services and consulting firm.
The IPO aimed to raise ₹ 93.29 crore through an entirely fresh issue of up to 65,70,000 equity shares, priced at ₹ 142 per share. The remarkable oversubscription across all investor categories sets the stage for a potentially robust market debut.
Subscription Breakdown Highlights Robust Interest
The detailed subscription figures reveal the depth of investor enthusiasm. The portion reserved for non-institutional investors (NIIs) witnessed an extraordinary subscription of 590.27 times.
Retail individual investors (RIIs) were not far behind, bidding for 134.03 times the shares allocated to them. Qualified institutional bidders (QIBs) also showed strong participation, with their segment subscribed 129.72 times.
In total, the issue received bids for 1,01,69,89,000 equity shares against a net issue size of approximately 43.9 lakh shares. This translated into a bid value of ₹ 14,441.24 crore. The issue attracted nearly 3.24 lakh applications.
Use of Proceeds
Virtual Galaxy Infotech plans to utilise the net proceeds from its IPO for several strategic purposes. The primary allocation of ₹342.68 million is earmarked for capital expenditure towards establishing an additional development facility in Nagpur, Maharashtra.
The company intends to allocate ₹30 million towards the repayment or prepayment of certain borrowings. An investment of ₹50.50 million is proposed for procuring GPUs, servers, and storage systems at its data centre.
Additionally, ₹189 million will be directed towards enhancing, maintaining, and upgrading existing products through manpower hiring. For business development and marketing activities, ₹140.60 million has been allocated. The remaining funds will be used for general corporate purposes.
Checking Allotment Status: A Step-by-Step Guide
Applicants can ascertain their allotment status through two primary channels: the IPO registrar's website and the National Stock Exchange (NSE) portal.
Via the Registrar (Maashitla Securities Private Ltd):
The official registrar for the Virtual Galaxy Infotech IPO is Maashitla Securities Private Ltd. This Sebi-registered entity is tasked with electronically processing applications and managing the allotment process.
1.Visit the registrar's web portal dedicated to public issues at https://maashitla.com/allotment-status/public-issues.
2.Once the allotment is finalised and the option becomes available, select "Virtual Galaxy Infotech IPO" from the dropdown menu listing active IPOs.
3.Choose one of the following methods to check your status:
◦PAN: Enter your 10-digit alphanumeric Permanent Account Number.
◦Application Number/CAF Number: Input your IPO application number or CAF number.
◦Beneficiary ID: Combine your depository participant (DP) ID and client ID from your demat account statement.
4.Click "Submit" or "Search" to view your allotment details, including the number of shares allocated.
Via the NSE Website:
Applicants can also check their status on the NSE website.
1.Go to the NSE IPO application status page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp.
2.If you are a new user, sign up with the required details.
3.Log in using your username and password.
4.Check the "I am not a robot" box.
5.Ensure the "IPO bid details" column is checked.
6.From the dropdown menu, select the company symbol/name, which will be Virtual Galaxy Infotech.
7.Enter your PAN number and application number.
8.Click the 'get data' button to retrieve your allotment status.
The allotment status will indicate whether you have received shares and the specific quantity. For unsuccessful applicants, the refund process will be initiated.
Key Timelines and Listing Prospect
Following the allotment finalisation today, the refund process for unsuccessful applicants and the credit of shares to the demat accounts of successful bidders are scheduled for Friday, May 16. The shares are slated for listing on the NSE SME platform on Monday, May 19, 2025.
Grey Market Premium
The strong subscription is further reflected in the Grey Market Premium (GMP). The latest reported GMP for Virtual Galaxy Infotech IPO is +₹ 87, trading at a premium of ₹ 87 in the unofficial market.
Considering the upper price band of ₹ 142, this suggests an estimated listing price of approximately ₹ 229 per share, potentially representing a listing gain of 61.27%. Experts at investorgain.com note an upward trend in the GMP over the past 11 sessions, reaching a peak of ₹ 87, indicating a potentially strong debut.
Note: The Grey Market Premium (GMP) is not an official price and is based on Market Speculation.
Source: LiveMint Report Dated May 15, 2025
Disclaimer: The GMP (Grey Market Premium) price is an unauthenticated market related news and has no discernible basis. The same quoted above is as per news appeared in the media report and is for information purposes only. The investor shall do their own study/research before using the same for taking any decision to invest. We neither engage in, trade, or deal in the grey market nor we recommend or endorse trading in the grey market.
Company Profile
Virtual Galaxy Infotech, incorporated in September 1997, operates as an IT services and consulting firm. The company provides software products and services across diverse sectors including banking and finance, ERP, e-government, cloud computing, and system integration.
The IPO aimed to raise ₹ 93.29 crore through an entirely fresh issue of up to 65,70,000 equity shares priced at ₹ 142 each.
Smart Horizon Capital Advisors acted as the sole book-running lead manager for the issue, with Maashitla Securities serving as the registrar. Alacrity Securities is the market maker.
The focus today remains firmly on the allotment process, which will determine the allocation of shares amidst exceptional investor demand.
Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.
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