Veegaland Developers logo

Veegaland Developers

Upcoming

Mainboard

PRICE BAND

Rs 130 - 140

LOT SIZE

107

Shares

MIN INVEST

Rs 14,980

CUT-OFF

Rs 140

per share

Open

10 Sept 2026

Last Day

15 Sept 2026

Allotment

16 Sept 2026

Expected Refund

17 Sept 2026

Listing

18 Sept 2026

GMP Today

2m ago

+10%

+Rs 14 premium

Refresh in --:--

Est. Listing Price

GMP Based

Rs 154

Issue Price + GMP (Dynamic)

Est. Profit (1 Lot)

GMP Based

+Rs 1,498

+10.0% (107 shares)

Subscription

-

Not open

IPOGyani AI Engine - Live Prediction
+8.6%

Range: +4.6% to +12.6%

Confidence: Moderate - 55%

Confidence Score - 55%

📈 GMP Trend Anchor Quality🧠 Sentiment 55/100📊 Sub 0x🏭 Real Estate / Residential Development
Next refresh: --:---Updated: --:-- IST-Model: IPOGyani v2.1

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Real-time subscription data

Subscription data will appear when IPO opens

Current IPO Status: upcoming

Summarize with AI

Get a quick Veegaland Developers summary (150-200 words) from your favorite AI:

About Veegaland Developers

Real Estate / Residential Development

Incorporated with real estate operations commencing in 2011 with its first project, Green Clouds in Kochi, Veegaland Developers Limited focuses on planning, development, and sale of multi-storey apartment projects spanning the mid-premium, premium, ultra-premium, luxe, and ultra-luxury segments. The company has since expanded its footprint beyond Kochi to Thiruvananthapuram, Kozhikode, and Thrissur.

As of October 31, 2025, the company had a portfolio of 23 residential projects, comprising 10 completed, 9 ongoing, and 4 upcoming projects, with a total saleable area of 31.38 lakh square feet spread across 1,762 residential units. According to an ICRA Report, the company was recognized as Kerala's fastest-selling real estate developer as of December 8, 2025. The company is part of the V-Guard Group, whose other listed entities include V-Guard Industries and Wonderla Holidays.

The company follows an integrated land-sourcing approach and a process-driven development model spanning the entire project lifecycle, from planning through construction to sales absorption. As of October 31, 2025, the company employed 100 full-time staff.

The company's competitive strengths include an established track record of timely project completion and strong sales absorption across its portfolio, an integrated and balanced multi-stage development approach, a process-driven model covering the full project lifecycle, and an experienced promoter and management team backed by strong in-house functional capabilities and the broader V-Guard Group's institutional credibility.

Issue Details

Total Issue Size

Rs 210 Cr

Price Band

Rs 130 - 140

Issue Size for Retails

Rs 73.5 Cr

= Total Issue Size × Retail Quota % / 100

= Rs 210 Cr × 35% / 100

Fresh Issue vs OFS

Fresh Issue
Rs 210 Cr (100%)

Basic Details

IPO Date
10 Sept 2026 - 15 Sept 2026
Listing Date
18 Sept 2026
Lot Size
107 Shares
Min Investment
Rs 14,980
Listing At
Mainboard

Reservation Quota

QIB

50%

Retail

35%

NII

15%

Lead Manager

Cumulative Capital Pvt. Ltd.

Registrar

MUFG Intime (Link Intime) India Pvt. Ltd.

Objects of the Issue (as per DRHP)

  • 1Funding a part of the expense to be incurred in development of Ongoing and Upcoming Projects (₹111.60 Cr)
  • 2Acquisition of identified land parcel for development of residential real estate projects (₹18.49 Cr)
  • 3Funding unidentified acquisition of land and general corporate purposes (balance of ₹79.91 Cr against the ₹210 Cr fresh issue)

Key Performance Indicator (KPI)

KPIFiscal 2025Fiscal 2026
ROE36.96%16.02%
ROCE13.75%11.89%
Debt/Equity2.700.32
RoNW36.96%16.02%
PAT Margin10.41%10.47%
EBITDA Margin17.21%16.78%
Price to Book Value2.56
Pre IPOPost IPO
EPS (Rs)8.775.46
P/E (x)15.9625.65
Promoter Holding92.00%63.69%
Market CapRs 682.50 Cr.

Kochouseph Thomas Chittilappilly, K. Chittilappilly Trust

Company Financials

Total Income Growth

30.5% YoY

FY24

Rs 110.77 Cr

FY25

Rs 192.38 Cr

FY26

Rs 250.98 Cr

Other Financial Metrics

EBITDA (FY26)

Rs 42.64 Cr

26.3% YoY

ROE

16.02%

Return on Equity

ROCE

11.89%

Return on Capital

Debt/Equity

0.32

Low Debt

2-Year CAGR

Revenue CAGR50.5%
Profit CAGR83.9%

P/E Ratio

25.65x

At upper band

Market Cap

Rs 683 Cr

Post issue

MARKET SENTIMENT SCORE

0
50
100
55
Neutral

Based on expert reviews, GMP trends & market signals

Expert Reviews & Opinions

Expert reviews for Veegaland Developers IPO will appear here once available.

Reviews are summarized from YouTubers, analysts, news channels, and brokerage firms using AI.

Peer Comparison

Comparing with 2 listed peers
IPO P/E Ratio
25.65x
vs Peer Avg: 22.9x
IPO Market Cap
Rs 683 Cr
Peer Avg: 3.2K Cr
IPO ROE
16.02%
vs Peer Avg: 5.4%
CompanyMarket CapRevenuePATP/EROE
VD
Veegaland DevelopersIPO
Rs 683 CrRs 250.98 CrRs 26.61 Cr25.65x16.02%
Shriram Properties1.3K Cr1.3K Cr100.81 Cr14.4x7.16%
Puravankara5.0K Cr3.7K Cr57 Cr31.5x3.62%
Peer Average3.2K Cr2.5K Cr78.91 Cr22.9x5.4%

Quick Analysis

  • Veegaland Developers's P/E of 25.65x is higher than the peer average of 22.9x, suggesting premium valuation.
  • ROE of 16.02% is above peer average (5.4%), indicating better return on equity.
  • Market cap post-listing would place Veegaland Developers below peer average in terms of size.

* All peer data is from publicly available sources. Financial figures are latest reported annual numbers.

IPO Lot Size

Investors can bid for a minimum of 107 shares and in multiples thereof.

ApplicationLotsSharesAmount
Retail (Min)1107₹14,980
S-HNI (Min)141,498₹2,09,720
B-HNI (Min)677,169₹10,03,660

IPO Details

Open Date10 Sept 2026
Close Date15 Sept 2026
Allotment Date16 Sept 2026
Expected Refund Date17 Sept 2026
Listing Date18 Sept 2026
Issue TypeBook Build Issue
Issue SizeRs 210 Cr
Fresh IssueRs 210 Cr
OFSNil
Price BandRs 130 - 140
Lot Size107 shares
Min Investment (Retail)Rs 14,980
Face ValueRs 1 per share
Listing ExchangeMainboard

Company Information

Company NameVeegaland Developers Ltd
IndustryReal Estate / Residential Development
RegistrarMUFG Intime (Link Intime) India Pvt. Ltd.
Lead ManagerCumulative Capital Pvt. Ltd.
Market Cap (Upper)Rs 683 Cr
P/E (Upper Band)25.65x

About the Company

Veegaland Developers Limited is a Kerala-focused residential real estate developer operating under the "Veegaland Homes" brand, part of the V-Guard Group founded by Kochouseph Thomas Chittilappilly.

Veegaland Developers IPO - Frequently Asked Questions

9 common questions about this IPO

  • 01.What is the price band of Veegaland Developers IPO?
    The price band of Veegaland Developers IPO is Rs 130-140 per share. The lot size is 107 shares per lot, so the minimum retail investment is Rs 14,980.
  • 02.What is the GMP of Veegaland Developers IPO today?
    The current Grey Market Premium (GMP) of Veegaland Developers IPO is Rs 14. GMP is an unofficial market signal and not a guaranteed listing price. IPOGyani updates GMP every 15 minutes from multiple grey-market sources - see the full GMP history and live trend on the dedicated GMP page.
  • 03.What is the subscription status of Veegaland Developers IPO?
    Veegaland Developers IPO is subscribed 0x overall so far. See the full day-wise category breakup (Retail, NII, QIB) and the live subscription trend on the dedicated subscription page.
  • 04.When is Veegaland Developers IPO opening and closing?
    Veegaland Developers IPO opens for subscription on 2026-09-10 and closes on 2026-09-15. The allotment is expected on 2026-09-16 and listing on 2026-09-18.
  • 05.What is the expected listing gain of Veegaland Developers IPO?
    IPOGyani's AI model predicts a listing gain of approximately 8.6% for Veegaland Developers IPO. The prediction combines subscription velocity, peer-group performance, sector trends and fundamentals. This is an estimate and not investment advice.
  • 06.Should I subscribe to Veegaland Developers IPO?
    Veegaland Developers IPO is currently 0x subscribed with a GMP of Rs 14 and an AI-predicted listing gain of 8.6%. Read the full analysis on this page - including expert reviews, peer comparison, financials and subscription pattern - before making any investment decision.
  • 07.Who is the registrar of Veegaland Developers IPO?
    The registrar of Veegaland Developers IPO is MUFG Intime (Link Intime) India Pvt. Ltd.. After allotment you can check your status on the registrar's website using your PAN or application number.
  • 08.Who are the lead managers of Veegaland Developers IPO?
    The lead manager(s) of Veegaland Developers IPO is/are Cumulative Capital Pvt. Ltd..
  • 09.How can I apply for Veegaland Developers IPO?
    You can apply for Veegaland Developers IPO via UPI through any SEBI-registered broker (Zerodha, Groww, Upstox, ICICI Direct, HDFC Sky etc.) or through ASBA via your bank's net-banking portal. Select Veegaland Developers, pick the number of lots (107 shares per lot), enter your UPI ID, and approve the mandate before the IPO closes on 2026-09-15.

Disclaimer

IPOGyani is not SEBI registered and does not provide investment advice. All information is for educational purposes only.

AI predictions are probabilistic estimates based on historical data and market trends. Past performance is not indicative of future results.

GMP (Grey Market Premium) data is sourced from various unofficial channels and may not be accurate. Always verify from multiple sources.

Investors should do their own research (DYOR) and consult a SEBI registered advisor before investing.

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