Veegaland Developers IPO — Date, Price Band, GMP & Allotment 2026
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Veegaland Developers Limited is a real estate developer working on residential, commercial and mixed use projects. Running since 2007, it had completed 10 residential projects totalling 11.05 lakh square feet and 692 units as on 30 June 2026, with 12 ongoing and 3 upcoming projects.
Open
10 Sep
2026
Close
15 Sep
2026
Allotment
16 Sep
2026
Listing
18 Sep
2026
IPO Review
Coming Soon
IPO GMP
₹ 14
(10.00%)
IPO Subscription Subscription
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IPO Summary
IPO Dates
10 to 15 Sep, 2026
Price Band
₹130 to ₹140
Face Value
₹10
Lot Size
107 Shares
Issue Size
₹210 Cr
Sale Type
Fresh capital only
Listing On
BSE, NSE
Min Investment
₹ 14,980
What is the Veegaland Developers IPO Timetable?
Track the IPO schedule and key events.
| Event | Date | Day |
|---|---|---|
| IPO Open Date | 10 Sep, 2026 | Thursday |
| IPO Close Date | 15 Sep, 2026 | Tuesday |
| Basis of Allotment | 16 Sep, 2026 | Wednesday |
| Refunds Initiated | 17 Sep, 2026 | Thursday |
| Credit to Demat | 17 Sep, 2026 | Thursday |
| Listing Date | 18 Sep, 2026 | Friday |
What is the Veegaland Developers IPO Lot Size?
Bidding in multiples of 107 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,980 |
| Retail (Max) | 13 | 1391 | ₹1,94,740 |
| S-HNI (Min) | 14 | 1498 | ₹2,09,720 |
| S-HNI (Max) | 66 | 7062 | ₹9,88,680 |
| B-HNI (Min) | 67 | 7169 | ₹10,03,660 |
About Veegaland Developers
Veegaland Developers Limited was started in 2007. It is a real estate development company that plans, builds and delivers residential, commercial and mixed use projects.
Its projects fall into three groups. As on 30 June 2026 it had 10 completed projects, 12 ongoing projects and 3 upcoming projects. The 10 completed projects were all residential and added up to 11.05 lakh square feet of saleable area, covering 692 units. Of those 692 units, 43 went to landowners under joint development agreements, which is the arrangement where a developer builds on someone else's land and shares the finished units with them.
The company says it works through an integrated model covering the whole project cycle, from sourcing land to construction to handing over, with in house teams for the main functions. As on 30 June 2026 it had 127 full time employees.
Its projects fall into three groups. As on 30 June 2026 it had 10 completed projects, 12 ongoing projects and 3 upcoming projects. The 10 completed projects were all residential and added up to 11.05 lakh square feet of saleable area, covering 692 units. Of those 692 units, 43 went to landowners under joint development agreements, which is the arrangement where a developer builds on someone else's land and shares the finished units with them.
The company says it works through an integrated model covering the whole project cycle, from sourcing land to construction to handing over, with in house teams for the main functions. As on 30 June 2026 it had 127 full time employees.
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Veegaland Developers Key Performance Indicators (KPIs)
Pe
25.64
Eps
5.46
Roce
11.89%
Ronw
16.02%
Pat margin
10.47%
Objects of the Issue
| Issue Object | Estimate Amount |
|---|---|
| Funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects | ₹119.83 Cr. |
| Funding unidentified acquisition of land and general corporate purposes |
Issue Object
Funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects
Estimate Amount
₹119.83 Cr.
Issue Object
Funding unidentified acquisition of land and general corporate purposes
Estimate Amount
Strengths & Risks
Strengths
- ✓ Profit has grown strongly, from Rs 7.87 crore in FY2024 to Rs 20.43 crore in FY2025 and Rs 26.61 crore in FY2026.
- ✓ Sales have more than doubled in two years, from Rs 114.61 crore in FY2024 to Rs 196.22 crore in FY2025 and Rs 254.16 crore in FY2026.
- ✓ EBITDA improved from Rs 16.72 crore in FY2024 to Rs 42.64 crore in FY2026.
- ✓ The company cut its debt by more than half in one year, from Rs 176.97 crore in FY2025 to Rs 85.59 crore in FY2026.
- ✓ Net worth rose sharply from Rs 65.44 crore to Rs 266.90 crore in FY2026.
- ✓ The PAT margin of 10.47% is healthy for a construction and development business.
- ✓ There is a visible pipeline, with 12 ongoing projects and 3 upcoming projects on top of the 10 already completed.
- ✓ The whole issue is fresh capital with no offer for sale, and Rs 119.83 crore of it goes into building out the ongoing and upcoming projects.
Risks
- ⚠ The issue is priced at about 25.64 times earnings on an EPS of Rs 5.46, while RoCE is only 11.89%, so the return on capital is modest for that valuation.
- ⚠ A part of the money is kept for an unidentified acquisition of land along with general corporate purposes. No specific land has been named, so investors do not know where that money will go.
- ⚠ Net worth jumped from Rs 65.44 crore to Rs 266.90 crore in a single year, so the earlier year ratios are not comparable with the latest year.
- ⚠ Real estate is capital heavy and cyclical. Money stays locked in land and construction for years before a project earns anything.
- ⚠ Project delivery depends on approvals, land titles and RERA compliance. Delays in any of these push out both revenue and cash flow.
- ⚠ The company works partly through joint development agreements, where a share of the finished units goes to the landowner. Of the 692 units completed so far, 43 went to landowners.
- ⚠ The completed portfolio is still modest at 10 projects and 11.05 lakh square feet, so the company is small compared with listed national developers.
- ⚠ The pre issue and post issue promoter holding is not stated in the available data, so the extent of promoter dilution is not clear.
- ⚠ Home demand and buyer sentiment move with interest rates, and a rise in home loan rates slows bookings quickly.
Company Financials
The Veegaland Developers company's financial performance (in ₹ Cr.) is summarized below:
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 483.81 | 326.65 | 221.01 |
| Total Income | 254.16 | 196.22 | 114.61 |
| Profit After Tax | 26.61 | 20.43 | 7.87 |
| EBITDA | 42.64 | 33.77 | 16.72 |
| NET Worth | 266.90 | 65.44 | 45.07 |
| Reserves and Surplus | 233.15 | 60.44 | 40.07 |
| Total Borrowing | 85.59 | 176.97 | 120.23 |
See how this IPO compares — view listing performance of all mainboard IPOs.
IPO Reservation
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Net Issue |
| NII | Not less than 15% of the Net Issue |
Promoters and Shareholding Details
Kochouseph Thomas Chittilappilly and K.Chittilappilly Trust
Promoter holding details will be updated as soon as they are officially announced.
Frequently Asked Questions
What is the GMP of Veegaland Developers?
The current Grey Market Premium (GMP) of Veegaland Developers is ₹ 14.
What is the Veegaland Developers IPO Price Band?
The price band for Veegaland Developers IPO is ₹130 to ₹140.
When is the Veegaland Developers IPO Allotment?
The allotment date for Veegaland Developers IPO is September 16, 2026.
How to check Veegaland Developers IPO Allotment Status?
You can check the allotment status on the IPO Allotment Status page or on the registrar's website (MUFG Intime India Private Limited).
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