Veegaland Developers IPO GMP today is Rs 9. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
VEEGALAND
Veegaland Developers IPO GMP & Allotment
Veegaland Developers is a real estate development company primarily focused on residential projects across urban micro-markets in Kerala, including Kochi, Thiruvananthapuram, Kozhikode, and Thrissur. The company undertakes the development, construction, design, and marketing of residential properties, predominantly catering to the premium, ultra-premium, and luxe segments. Its core business model involves acquiring land outright or through joint development arrangements with landowners to construct apartments and boutique flats. The company generates revenue through the sale of these residential units, with payments typically linked to construction milestones. Veegaland relies on third-party contractors and specialist agencies for the execution of civil construction, architectural design, and structural engineering. The project portfolio includes a mix of completed properties, ongoing construction sites, and upcoming developments, positioning the company to address demand for higher-value residential spaces in its operational regions.
- IPO Price Band
- ₹130.00 - ₹140.00
- Lot Size
- 107 Shares
- Bidding Closes
- 15 Sept 2026
- Listing Date
- 18 Sept 2026
Current GMP Status
₹9
+6.43% vs upper band
Est. Listing Gain
+7.86%
Last Trend
18 Sept 2026
Listing Price
₹151.00
Retail Entry
₹14,980
IPO Details
Complete IPO information
| IPO Open Date | 10 Sept 2026 |
|---|---|
| IPO Close Date | 15 Sept 2026 |
| IPO Price Band | ₹130.00 - ₹140.00 |
| Lot Size | 107 Shares |
| Current GMP | ₹9 |
| Estimated Listing Gain | +7.86% |
| Issue Size | Approx ₹210 Cr |
| Fresh Issue | Approx ₹210 Cr |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| Retail Quota | TBA |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Overall Subscription | 13.55x |
| Minimum Investment | ₹14,980 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 32.31 | 573.84 | 17.76x |
| NII | 24.23 | 436.76 | 18.03x |
| Retail | 56.54 | 522.15 | 9.24x |
| Overall Subscription | 113.08 | 1532.74 | 13.55x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Veegaland Developers is priced at ₹140 per share. With a minimum lot size of 107 shares, a retail investor applying for one lot would need approximately ₹14,980 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Veegaland Developers stands at ₹9, implying an estimated listing gain of around 6.43% over the issue price if it holds until listing. This is up ₹4 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Veegaland Developers's IPO was subscribed 13.55x overall, with a category-wise breakdown of Retail 9.24x, QIB 17.76x, NII 18.03x.
Among the strengths highlighted in Veegaland Developers's IPO documents: Focuses on high-margin premium and luxe residential segments across Kerala.; Benefits from the established brand trust and goodwill of the V-Guard Group..
Investors should also weigh the risk factors Veegaland Developers has disclosed, including: Business operations and market demand are concentrated entirely within Kerala..
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
10 Sept 2026
✓
Bidding Closes
15 Sept 2026
✓
Allotment
16 Sept 2026
✓
Listing
18 Sept 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 18 Sept 2026 | ₹9.00 | +₹4.00 | 6.43% |
| 17 Sept 2026 | ₹5.00 | -₹5.00 | 3.57% |
| 16 Sept 2026 | ₹10.00 | -₹10.00 | 7.14% |
| 15 Sept 2026 | ₹20.00 | -₹2.00 | 14.29% |
| 14 Sept 2026 | ₹22.00 | -₹3.00 | 15.71% |
| 11 Sept 2026 | ₹25.00 | +₹1.00 | 17.86% |
| 10 Sept 2026 | ₹24.00 | -₹6.00 | 17.14% |
| 07 Sept 2026 | ₹30.00 | +₹8.00 | 21.43% |
| 06 Sept 2026 | ₹22.00 | - | 15.71% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 107 | ₹14,980 |
| Retail Maximum | 13 Lot | 1,391 | ₹1,94,740 |
| S-HNI Minimum | 14 Lot | 1,498 | ₹2,09,720 |
| S-HNI Maximum | 66 Lot | 7,062 | ₹9,88,680 |
| B-HNI Minimum | 67 Lot | 7,169 | ₹10,03,660 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Focuses on high-margin premium and luxe residential segments across Kerala.
- Benefits from the established brand trust and goodwill of the V-Guard Group.
- Utilizes a flexible, asset-light land acquisition strategy including joint developments.
- Maintains a robust pipeline of completed, ongoing, and upcoming urban projects.
- Uses professional management backed by digitalized Veega-NOVA ERP systems
Risks
- Business operations and market demand are concentrated entirely within Kerala.
- Relies heavily on third-party contractors for all project execution and construction.
- Revenues fluctuate significantly due to the milestone-linked nature of real estate.
- Highly exposed to price volatility and supply chain disruptions for building materials.
- Operations depend significantly on personal financial guarantees provided by the promoter.
Analysis
Veegaland Developers IPO Reservation
The Veegaland Developers IPO reservation structure divides the issue shares among qualified institutional buyers, non-institutional investors and retail investors. As per the provided details, the QIB category excluding the anchor portion is reserved for 50% of the shares, while NII investors receive 15% and retail investors receive 35%.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: Share quantities for the individual investor categories were not provided in the supplied IPO reservation data.
Analysis
Veegaland Developers IPO Anchor Investors
Veegaland Developers IPO anchor bidding is scheduled for September 9, 2026, one day before the public issue opens. Anchor investors are typically allotted shares ahead of the IPO opening, providing an indication of institutional participation in the issue.
The anchor investor list, number of shares offered and anchor size will provide additional details about the institutional allocation. The supplied information currently shows placeholders for the share quantity and total anchor size, while the two applicable lock-in periods are specified separately.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 9, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – 50% Shares (90 Days) | 2026 |
Note: Anchor share quantity, issue value and lock-in end dates are shown as provided in the supplied IPO data.
Analysis
Veegaland Developers IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 10 Sept 2026 |
| IPO Close Date | 15 Sept 2026 |
| Basis of Allotment | 16 Sept 2026 |
| Refunds | 17 Sept 2026 |
| Credit to Demat Account | 17 Sept 2026 |
| IPO Listing Date | 18 Sept 2026 |
Note: The timeline for Veegaland Developers IPO is tentative and subject to change.
Analysis
Veegaland Developers IPO Promoters and Holding Pattern
The promoters of Veegaland Developers are Kochouseph Thomas Chittilappilly and K. Chittilappilly Trust. Before the IPO, the promoter and promoter group held 92.00% of the company's shares, while the remaining 8.00% was held by others.
Following the IPO, the promoter and promoter group holding is expected to stand at 63.69%. The increase in shares held by other shareholders reflects the dilution resulting from the fresh issue, with the total post-IPO shareholding increasing to 4,87,50,000 shares.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 3,10,48,500 | 92.00% | 3,10,48,500 | 63.69% |
| Others* | 27,01,500 | 8.00% | 1,77,01,500 | 36.31% |
| Total | 3,37,50,000 | 100% | 4,87,50,000 | 100% |
Note: The holding pattern is based on the Veegaland Developers IPO shareholding data provided.
Analysis
Veegaland Developers Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Funding a part of the expense in the development of Ongoing Projects | 119.83 (57.06%) |
| General corporate purposes | 90.17 (42.94%) |
Note: Objectives are as specified in the DRHP/RHP documents of Veegaland Developers.
Analysis
Veegaland Developers About IPO
Veegaland Developers, founded in 2007, is a real estate development firm that works on residential, commercial, and mixed-use projects. From planning and construction to modern design and timely execution of property developments, Veegaland Developers handles everything.
Its project portfolio includes housing projects, commercial complexes, and integrated developments serving a wide range of customers. So far, the firm has completed 10 residential projects aggregating to 11.05 lakh square feet of saleable area; 12 are ongoing projects, and 3 are upcoming ones. The company’s main aim is to build environmentally responsible properties, be useful, and provide good value to the customers.
Analysis
Veegaland Developers Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 114.61 Cr. | 103.39 Cr. | 7.87 Cr. | 221.01 Cr. |
| 2025 | 196.22 Cr. | 167.95 Cr. | 20.43 Cr. | 326.65 Cr. |
| 2026 | 254.16 Cr. | 217.96 Cr. | 26.61 Cr. | 483.81 Cr. |
Note: Financial numbers for Veegaland Developers are in ₹ Crores unless stated otherwise.
Analysis
Veegaland Developers Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 16.02% |
| ROCE | 11.89% |
| EBITDA Margin | 16.78% |
| PAT Margin | 10.47% |
| Debt to Equity Ratio | 0.32 |
| Earning Per Share (EPS) | 8.77 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 16.02% |
| Net Asset Value (NAV) | 79.08 |
Note: Valuation KPIs for Veegaland Developers are computed for FY2026.
Analysis
Veegaland Developers IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Shriram Properties Limited | 5.91 | 12.91 | 7.16% | 85.55 | 1,267.41 Cr. |
| Puravankara Limited | 2.69 | 84.24 | 3.23% | 75.37 | 3,739.83 Cr. |
Note: Peer group comparisons for Veegaland Developers are sourced from DRHP filings.
Analysis
Veegaland Developers IPO Lead Managers aka Merchant Bankers
- Cumulative Capital Pvt.Ltd.
Comparison
Compare Veegaland Developers IPO with similar IPOs
FAQ
Veegaland Developers IPO FAQs
Veegaland Developers IPO price band is Rs 130.00 to Rs 140.00. Check the latest issue price, lot size and GMP together before applying.
Veegaland Developers IPO open date is 10 Sept 2026, close date is 15 Sept 2026, and listing date is 18 Sept 2026.
Veegaland Developers IPO lot size is 107 shares. The minimum retail investment is Rs 14,980.
Veegaland Developers is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Veegaland Developers IPO subscription status currently shows Retail 9.24x, QIB 17.76x, NII 18.03x, Overall 13.55x.
Veegaland Developers is a real estate development company primarily focused on residential projects across urban micro-markets in Kerala, including Kochi, Thiruvananthapuram, Kozhikode, and Thrissur. The company undertakes the development, construction, design, and marketing of residential properties, predominantly catering to the premium, ultra-premium, and luxe segments. Its core business model involves acquiring land outright or through joint development arrangements with landowners to construct apartments and boutique flats. The company generates revenue through the sale of these residential units, with payments typically linked to construction milestones. Veegaland relies on third-party contractors and specialist agencies for the execution of civil construction, architectural design, and structural engineering. The project portfolio includes a mix of completed properties, ongoing construction sites, and upcoming developments, positioning the company to address demand for higher-value residential spaces in its operational regions.
Veegaland Developers IPO issue size is 210 and the expected allotment date is 16 Sept 2026.
Community discussion
Comments
Share a useful question or insight about Veegaland Developers.
Leave a comment
Your email address will not be published. All comments and replies are reviewed before appearing.
Keep Exploring
Similar Recent IPOs
Mainboard
Bombay Coated & Special Steels
Price BandTBA
Current GMP₹0
Lot SizeTBA
Mainboard
BLS Polymers
Price Band₹142.00 - ₹150.00
Current GMP₹29 · +19.3%
Lot Size100 Shares
Mainboard
SFC Environmental Technologies
Price Band₹313.00 - ₹330.00
Current GMP₹21 · +6.4%
Lot Size45 Shares
Mainboard
EAAA India Alternatives
Price Band₹1585.00 - ₹1665.00
Current GMP₹0
Lot Size9 Shares
Loading comments...