- Issue price
- ₹140per share
- Issue size
- ₹210 Cr1,50,00,000 shares
- Face value
- ₹10per equity share
- Lot size
- 107 sharesMin. ₹14,980 at the upper price
- Anchor biddingWed, 2026
- OpensThu, 2026
- ClosesTue, 2026
- AllotmentWed, 2026
- ListingFri, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 1,50,00,000 shares (₹210 Cr)
- Offer for sale
- None
- Total issue
- 1,50,00,000 shares (₹210 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail35.0%
- Anchor30.0%
- QIB ex-anchor20.0%
- Big NII10.0%
- Small NII5.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 52,50,000 | 35.00% | 35% |
| Non-institutional investors (NII) | 22,50,000 | 15.00% | 15% |
| Small NII (₹2–10 lakh) | 7,50,000 | 5.00% | — |
| Big NII (above ₹10 lakh) | 15,00,000 | 10.00% | — |
| Qualified institutional buyers (QIB) | 75,00,000 | 50.00% | 50% |
| QIB, excluding anchor | 30,00,000 | 20.00% | — |
| Anchor investors | 45,00,000 | 30.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹140 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 107 | ₹14,980 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2026, pre-issue- EPS (basic)
- ₹8.77
- EPS (diluted)
- ₹8.77
- P/E (FY 2026 at Cap Price)
- 15.96×
- P/E (FY 2026 at Floor Price)
- 14.82×
- RoNW
- 16.02%
- ROCE
- 11.89%
- NAV per share (As at March 31, 2026)
- ₹79.08
- NAV per share (After issue at Floor Price)
- ₹95.56
- NAV per share (After issue at Cap Price)
- ₹97.83
- Debt to equity
- 0.32
- EBITDA margin
- 16.78%
- PAT margin
- 10.47%
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 250.98 | 192.38 | 110.77 |
| Total income | 254.16 | 196.22 | 114.61 |
| EBITDA | 42.64 | 33.77 | 16.72 |
| Profit after tax | 26.61 | 20.43 | 7.87 |
| Net worth | 266.90 | 65.44 | 45.07 |
| Reserves and surplus | 233.15 | 60.44 | 40.07 |
| Total assets | 483.81 | 326.65 | 221.01 |
12 months vs 12 months: revenue +30.5%, profit after tax +30.3%.
Source: ProspectusUpdated
About the company
Develops and sells multi-storey residential apartment projects in Kerala under the Veegaland Homes brand, with projects in Kochi, Thiruvananthapuram, Kozhikode and Thrissur. Construction is carried out by third-party contractors under the company's own project monitoring, and the business spans completed, ongoing and upcoming projects.
- Incorporated
- 2007
- Industry
- Real Estate
- Sector
- Real Estate
- CIN
- U45201KL2007PLC021107
- Website
- veegaland.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Kochouseph Thomas Chittilappilly | 67.25% | — |
| K. Chittilappilly Trust | 24.74% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Part-funding construction and development expenses of ongoing projects | 119.83 |
| Funding unidentified land acquisition and general corporate purposes | 68.86 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Veegaland Developers LimitedIssuer | ₹8.77 | 15.96× | 16.02% | ₹79.08 |
| Shriram Properties Limited | ₹5.91 | 12.85× | 7.16% | ₹85.55 |
| Puravankara Limited | ₹2.69 | 80.22× | 3.23% | ₹75.37 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Has delivered completed projects with all units sold, per the company's record.
- Ongoing projects show significant sales absorption during construction.
- Sales value grew strongly from FY 2024 to FY 2026.
- Portfolio spans completed, ongoing and upcoming projects, giving visibility on future activity.
- Backed by a promoter group with a long history and a professional management team.
Risks
- All projects are concentrated in Kerala, so results depend on the state's residential real estate market and climate events.
- Delays or cost overruns in ongoing and upcoming projects could hurt revenue and cash flows.
- Collections depend on construction milestones and RERA escrow restrictions, so cash inflows may lag construction spending.
- Net proceeds and funding plans have not been appraised by any bank or financial institution.
- The company has significant related-party transactions with promoters and has repaid promoter loans.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹140) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Veegaland Developers IPO open and close?
According to the Prospectus, the issue opens on Thursday, 10 September 2026 and closes on Tuesday, 15 September 2026.
What is the Veegaland Developers IPO price band?
The final issue price is ₹140 per share.
What is the lot size of the Veegaland Developers IPO?
One lot is 107 shares, which is ₹14,980 at ₹140 per share.
Where will Veegaland Developers shares list?
On NSE and BSE. The tentative listing date is Friday, 18 September 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Veegaland Developers IPO allotment status?
The basis of allotment is expected to be finalised on Wednesday, 16 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹119.83 Cr for part-funding construction and development expenses of ongoing projects, ₹68.86 Cr for funding unidentified land acquisition and general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.