Summary
Veegaland Developers IPO will open on 10 September 2026 and close on 15 September 2026. The IPO price band ranges from ₹130 to ₹140. The company’s offer size is ₹210 crore, with a fresh issue.
Veegaland Developers is engaged in the business of developing and marketing mid-premium to ultra-luxury apartment schemes in the State of Kerala. The company’s lot size is 107. The company’s Minimum Retail Application is ₹14,980, and the Maximum Retail Application is ₹1,94,740.
In the higher price band of ₹140, the Minimum Retail Application is ₹14,980, and the Maximum Retail Application is ₹1,94,740 across 1,391 lots. Minimum Application of the sNII is ₹2,09,720, and the Maximum Application is ₹9,88,680.
Veegaland Developers IPO will be open from 10 September 2026 to 15 September 2026. The size of the issue is ₹210 crore. The price band for the issue is ₹130-₹140. The allotment is expected to be made on 16 September 2026, and the listing on 18 September 2026 on BSE and NSE. The lot size for retail investors is 107 shares.
Maximum subscription for retail investors is 1,391 shares. For retail investors, in the higher price band, the minimum investment is ₹14,980, and the maximum is ₹1,94,740. For sNII, the minimum application is 1,498 shares, and the maximum is 7,062 shares. bNII starts from 7,169 shares.
Veegaland Developers IPO Key Details
Here is a quick look at the important details of the Veegaland Developers IPO:
| IPO Open Date | 10 September, 2026 |
| Close Date | 15 September, 2026 |
| Face value | ₹10 per share |
| Price Band | ₹130 to ₹140 |
| Issue price | – |
| IPO Lot Size | 107 shares |
| Offer for sale | – |
| Fresh issue | 1,50,00,000 shares |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE, NSE |
| Total Issue Size (₹ Crore) | 1,50,00,000 Shares (₹210 cr) |
| Minimum Investment | ₹14,980 (107 Shares) |
Veegaland Developers IPO Timeline
The key dates for the Veegaland Developers IPO are given below:
| Bidding Opens | 10 September, 2026 |
| Bidding Closes | 15 September, 2026 |
| Allotment Planned For | 16 September, 2026 |
| Refunds Start On | 17 September, 2026 |
| Share Credit to Demat | 17 September, 2026 |
| Listing Scheduled | 18 September, 2026 |
| Cut-off for UPI mandate | 15 September, 2026 5:00 PM |
Veegaland Developers Key Performance Indicators (KPIs)
Veegaland Developers KPIs are presented in the following table:
| KPIs | FY 2026 | FY 2025 | FY 2024 |
| ROE (%) | 16.02% | 36.96% | 19.12% |
| ROCE (%) | 11.89% | 13.75% | 9.85% |
| Debt-Equity (times) | 0.32 | 2.70 | 2.67 |
| RoNW (%) | 16.02% | 36.96% | 19.12% |
| PAT Margin (%) | 10.47% | 10.41% | 6.87% |
| EBITDA Margin (%) | 16.78% | 17.21% | 14.59% |
| Price Book Value | 1.77 | – |
Veegaland Developers Financials
Here is an overview of the company’s financial figures:
| Period | FY 2026 | FY 2025 | FY 2024 |
| Total Assets | 48,381.36 | 32,665.22 | 22,101.17 |
| Revenue from operations | 25,097.62 | 19,237.53 | 11,076.76 |
| Profit After Tax | 2661.46 | 2042.59 | 786.88 |
(Amount in ₹ Lakhs)
Veegaland Developers IPO Subscription Status
| Date | QIB (Ex Anchor) | NII | Retail | Total |
|---|---|---|---|---|
| Sep 10 (Day 1) | 0.00 | 0.15 | 0.46 | 0.26 |
Veegaland Developers IPO Grey Market Premium
The listing date for the Veegaland Developers IPO is expected on 18, September 2026, with a price range of ₹130- ₹140 per equity share. Grey market premiums (GMPs) can fluctuate frequently because they are unofficial.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 10-09-2026 Open | ₹24 ─ | ₹164 (17.14%) | ₹2,568 | 10-Sep-2026 11:33 |
| 09-09-2026 | ₹24 ▼ | ₹164 (17.14%) | ₹2,568 | 9-Sep-2026 23:28 |
| 08-09-2026 | ₹33 ▲ | ₹173 (23.57%) | ₹3,531 | 8-Sep-2026 23:37 |
| 07-09-2026 | ₹30 ─ | ₹170 (21.43%) | ₹3,210 | 7-Sep-2026 23:28 |
| 06-09-2026 | ₹30 ▲ | ₹170 (21.43%) | ₹3,210 | 6-Sep-2026 23:35 |
| 05-09-2026 | ₹22 ─ | ₹162 (15.71%) | ₹2,354 | 5-Sep-2026 23:36 |
| 04-09-2026 | ₹22 ▲ | ₹162 (15.71%) | ₹2,354 | 4-Sep-2026 23:34 |
| 03-09-2026 | ₹18 ─ | ₹158 (12.86%) | ₹1,926 | 3-Sep-2026 23:29 |
| 02-09-2026 | ₹18 ─ | ₹158 (12.86%) | ₹1,926 | 2-Sep-2026 23:29 |
| 01-09-2026 | ₹18 ─ | ₹158 (12.86%) | ₹1,926 | 1-Sep-2026 23:28 |
Note: GMP represents sentiment in the unofficial market and should not be considered an indication of assured listing returns.
Veegaland Developers IPO Reservation
The share allocation for each investor category is outlined below:
| Investor Category | Reservation |
| Market Maker | – |
| QIB | Not more than 50% of the net issue |
| NIIs | Not less than 15% of the net issue |
| Retail Investors | Not less than 35% of the net issue |
| Total Shares | – |
Veegaland Developers IPO Lot Size
The applicable lot sizes for different investor categories are as follows:
| Application Type | Lots | Shares | Amount |
| Individual Investor – Minimum | 1 | 107 | ₹14,980 |
| Individual Investor – Maximum | 13 | 1,391 | ₹1,94,740 |
| S-HNI Minimum | 14 | 1,498 | ₹2,09,720 |
| S-HNI Maximum | 66 | 7,062 | ₹9,88,680 |
| B-HNI Minimum | 67 | 7,169 | ₹10,03,660 |
Veegaland Developers IPO Anchor Investors
The allotment status of the Veegaland Developers IPO is currently not yet available. As a result, information related to anchor bidding, share allocation, investment value, and lock-in periods will be added once it is disclosed.
Veegaland Developers IPO Prospectus
For more information on the Veegaland Developers IPO, check the links below:
About Veegaland Developers IPO
Incorporation: 2007
Independent Director: George joseph
Veegaland Developers is a real estate development company based in Kerala that operates under the name of Veegaland Homes. This organisation primarily focuses on planning and marketing multi-storey residential apartments. Its product range includes mid-premium, premium, ultra-premium, luxe, and ultra-luxury housing segments.
Veegaland Developers operates in Kochi, Thiruvananthapuram, Kozhikode, and Thrissur. This company takes care of all phases of property development, including planning, designing, building, and executing the project. They pay special attention to high-quality building and sustainable development of customer-oriented residential areas.
| Issue Registrar | MUFG Intime India Pvt. Ltd. |
| Lead Manager | Cumulative Capital Pvt. Ltd. |
Veegaland Developers IPO Objectives
Funds received from the IPO will be directed towards the following purposes:
| Particulars | Amount (in ₹ Lakhs) |
| Funding a part of the expense to be incurred in the development of ongoing projects | 11,982.54 |
| Funding unidentified acquisition of land and general corporate purposes |
Strengths of Veegaland Developers
Veegaland Developers is one of the firms that boast various advantages that will aid in understanding the firm’s operating position. The highlights include:
- Project execution history: Veegaland Developers has successfully executed 10 residential projects, with each project achieving 100% sell-through. The firm has completed its projects either on time or ahead of RERA deadlines, which helps strengthen its project execution track record.
- Fast-growing revenue: The firm’s total income grew from ₹11,461.38 Lakhs in FY24 to ₹19,621.88 Lakhs in FY25 and ₹25,415.95 Lakhs in FY26. PAT has grown from ₹786.88 Lakhs to ₹ 2,661.46 Lakhs.
- High residential project pipeline: As of 30th June 2026, the number of projects underway and under development was 12 and 3, respectively. The total number of units sold during this period was 637, covering 11.87 lakh sq. ft. of saleable area including JDAs.
- Association with V-Guard group: Veegaland Developers is now part of the V-Guard group. The group’s presence is in the Indian consumer and electrical product markets, which provides broader business experience and brand recognition.
- Established Development experience: They have experience in developing residential projects through different development models, including owned-land and joint development arrangements. This gives the company flexibility in sourcing and developing properties without relying on only one approach. Its project experience can also support execution of future residential developments.
Risks of Veegaland Developers
Veegaland Developers operates in the project-based, capital-intensive real estate sector. The risks described below are worth considering because they directly affect project delivery and cash flows.
- High dependence on the Kerala market: The projects implemented by Veegaland Developers are located in Kerala, namely Kochi, Thiruvananthapuram, Kozhikode, and Thrissur. If there are any troubles in Kerala’s real estate market, they can negatively affect sales and cash flows.
- Project implementation risk: At present, the number of projects implemented and planned by Veegaland Developers is 15 – 12 projects are now under implementation, and 3 projects are planned until June 2026. There is a possibility that the project delivery might be delayed and exceed the budget.
- Negative operating cash flow: The operating cash flow was negative by ₹74.26 crore in FY26, compared with ₹43.99 crore in FY25. This clearly indicates that accounting profit does not get converted into positive cash flow generated from operations. Persisting negative operating cash flow can make the business more dependent on raising funds for projects.
- Dependence on Contractors: Contractor expenses were approximately ₹11,214.65 Lakhs in FY26, accounting for almost 44.92% of operating expenses. The company relies upon contractors for several construction activities. Any delay, labour shortage, or rise in contractor costs can impact the project schedule and margins.
Veegaland Developers IPO Review
Veegaland Developers is a real estate company that develops residential projects primarily in Kerala. The financial performance of the company is reflected in revenue from operations increasing from ₹11,076.76 Lakhs in FY24 to ₹25,097.62 Lakhs in FY26, and PAT increasing from ₹786.88 Lakhs in FY24 to ₹2,661.46 Lakhs in FY26.
Veegaland Developers was founded on the principle of process-oriented development, including land acquisition and joint development agreements. The company’s operating performance demonstrates consistent growth, driven by the successful implementation of projects and the sale of residential properties.
However, Veegaland Developers is heavily exposed to the property market in Kerala. Any project delays, changes in construction costs, regulatory issues, contractor work, and the housing market may negatively impact the company’s operating performance and cash flows.
The offer includes only the primary share offering, which will be used to fund ongoing and upcoming projects. Risk factors for the company include high geographic concentration in Kerala, possible project implementation delays, cost overruns, and exposure to the housing market.
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Veegaland Developers IPO FAQs
Veegaland Developers’ IPO is a public offering by Veegaland Developers, an apartment real estate developer based in Kerala. The company constructs and offers residential apartments in the residential real estate market segment. This IPO involves the issuance of fresh shares.
Investors can subscribe to the IPO via their broker or a UPI-enabled investing portal. They will have to choose the IPO, select the desired number of lots and apply. After that, they need to approve the UPI mandate to finalise the application.
The IPO can be evaluated based on its financials, projects, valuation, and other business risks. Other factors include its regional presence in Kerala and its track record of executing projects.
There is no way to ascertain the returns prior to the listing of the stocks. It will depend on how much the stock costs at listing and afterwards. GMP is only a guide and does not assure returns at listing.
Veegaland Developers IPO will open on 10 September 2026. The subscription period will last until 15 September 2026. Investors have to apply during the subscription period.
Veegaland Developers IPO lot size is 107 shares. If the upper price band of ₹140 per share is assumed, the amount required for one lot is ₹14,980.
Allotment will be finalised by 16 September 2026. Allotment shall be based on the subscriptions received from the investors. Investors can check their allotment position on the IPO registrar/stock exchange’s website.
Veegaland Developers IPO stocks will be listed on 18 September 2026. The listing will be done on both the BSE & NSE. The market price after listing would depend on the supply and demand for the stocks.
