Veegaland Developers IPO 2026: Date, Price Band, GMP and Details
Dates, price band, lot size, financials and full details of the Veegaland Developers Limited IPO, sourced from the company's Red Herring Prospectus (RHP).
Veegaland Developers IPO at a glance
| Detail | Value |
| IPO Dates | 10 to 15 Sep 2026 |
| Price Band | ₹130 to ₹140 |
| Issue Size | ₹210 crore |
| Lot Size | 107 shares |
| Minimum Investment | ₹14,980 |
| Listing Date | 18 Sep 2026 |
Veegaland Developers Limited is bringing a Book Built Mainboard IPO worth ₹210 crore. The issue is entirely a fresh issue of 1,50,00,000 shares, with no Offer for Sale (OFS). The IPO is open from 10 September to 15 September 2026 and is proposed to list on the BSE and the NSE.
Veegaland Developers IPO Details
| Particulars | Details |
| IPO Type | Book Built Mainboard IPO |
| Total Issue Size | ₹210 crore (1,50,00,000 shares) |
| Fresh Issue | ₹210 crore (1,50,00,000 shares) |
| Offer for Sale (OFS) | None. The issue is entirely a fresh issue. |
| Price Band | ₹130 to ₹140 per share |
| Face Value | ₹10 per share |
| Lot Size | 107 shares |
| Minimum Retail Investment | ₹14,980 (1 lot, at upper price band) |
| Listing On | BSE and NSE |
| Lead Manager | Cumulative Capital Private Limited |
| Registrar | MUFG Intime India Private Limited |
Veegaland Developers IPO Timelines
| Event | Date |
| IPO Opens | 10 September 2026 |
| IPO Closes | 15 September 2026 |
| Allotment | 16 September 2026 |
| Refund Initiation | 17 September 2026 |
| Credit of Shares to Demat | 17 September 2026 |
| Listing Date | 18 September 2026 |
Dates are tentative and may change.
Veegaland Developers IPO GMP
GMP stands for Grey Market Premium. It is the extra amount some traders are willing to pay for IPO shares in an informal market before listing, on top of the issue price. This market runs outside the stock exchanges, so the figure is unregulated, unverified, and can move sharply within a single day. A high GMP does not confirm a listing gain, and a low one does not rule it out, because it tracks short-term sentiment rather than the worth of the business. A steadier read on the IPO comes from the company's financials, how it plans to use the money, its valuation, and the risk factors set out in the Red Herring Prospectus (RHP).
About Veegaland Developers Limited
Originally incorporated as Vintes Solutions Private Limited in August 2007, Veegaland Developers Limited is a residential real estate developer based in Kochi, Kerala. It develops residential, commercial, and mixed-use projects under the Veegaland brand, with its operations focused on Kerala.
As of 30 June 2026, the company had 12 ongoing projects with an aggregate saleable area of about 18.57 lakh square feet, and 3 upcoming projects covering about 4.62 lakh square feet. Over the past 14 years, it has completed 10 projects covering about 11.05 lakh square feet. It acquires land mainly through outright purchase and selectively through joint development arrangements with landowners.
The company's promoters are Kochouseph Thomas Chittilappilly and the K. Chittilappilly Trust.
What are the Key Strengths of Veegaland Developers (as stated in the RHP)
- Established track record of timely completion and sales absorption across completed and ongoing projects.
- Integrated land source approach and a balanced multi-stage development portfolio.
- Integrated and process-driven development model covering the entire project lifecycle.
- Experienced promoters and a competent management team supported by strong in-house functional teams.
What the Money Will Be Used For
The IPO is entirely a fresh issue of ₹210 crore, with no Offer for Sale, so all the proceeds go to the company. It plans to use the money for the following:
| Object of the Issue | Amount |
| Funding a part of the expense for the development of ongoing projects | ₹119.83 crore |
| Unidentified acquisition of land and general corporate purposes | Balance amount |
Per the RHP, the amounts for land acquisition and general corporate purposes will each not exceed 25% of the gross proceeds, and together not exceed 35%.
What are the Company Financials of Veegaland Developers
Restated figures, in ₹ crore.
| Particulars | FY 2026 | FY 2025 | FY 2024 | 2-Yr CAGR |
| Total Income | 254.16 | 196.22 | 114.61 | 48.91% |
| Profit After Tax (PAT) | 26.61 | 20.43 | 7.87 | 83.91% |
| EBITDA | 42.64 | 33.77 | 16.72 | 59.69% |
| Net Worth | 266.90 | 65.44 | 45.07 | 143.35% |
| Total Borrowing | 85.59 | 176.97 | 120.23 | -15.63% |
2-Yr Compound Annual Growth Rate (CAGR) is calculated from FY 2024 to FY 2026.
Who Can Apply
The offer is split across investor categories as follows:
| Category | Share of the Net Offer |
| Qualified Institutional Buyers (QIB) | Not more than 50% |
| Non-Institutional Investors (NII) | Not less than 15% |
| Retail Individual Investors (RII) | Not less than 35% |
How to Apply for the Veegaland Developers IPO
You can apply online through your broker app or through your bank's net banking using the Application Supported by Blocked Amount (ASBA) facility.
- Log in to your broker app or your bank's net banking.
- Open the IPO section and select Veegaland Developers IPO.
- Enter the number of lots and your bid price, or select the cut-off price.
- Enter your Unified Payments Interface (UPI) ID, or confirm your bank account for the ASBA route.
- Submit the application form.
- Approve the mandate request in your UPI app to block the funds until allotment.
How to Check Allotment Status
The basis of allotment is expected to be finalised on 16 September 2026. Once it is out, you can check your allotment status in three ways. You will need your PAN, application number, or DP/Client ID.
- On the registrar's website, MUFG Intime India, at the public issues page.
- On the BSE or NSE website under the IPO allotment section.
- Inside your broker app, under orders or IPO history.
Key Risk Factors
The RHP lists several risk factors. A few of the key ones are summarised below. Please read the full RHP for the complete list.
- The business is entirely concentrated in the state of Kerala, so its performance is highly dependent on conditions there.
- The business is capital intensive and requires substantial upfront investment for land acquisition, construction, and regulatory approvals.
- Its joint development arrangements may subject it to title, execution, and counterparty risks.
- Delays, defaults, or cancellations by customers of residential units could affect its cash flows, working capital, and profitability.
- There are outstanding legal proceedings involving the company, its directors, and its promoters.
- The company has contingent liabilities which, if they materialise, could adversely affect it.
- Any delay in deploying the net proceeds towards the objects may adversely affect the business.
- Its ongoing digital transformation initiatives may not deliver the anticipated benefits and could disrupt operations.
- After the Issue, the promoters and promoter group will continue to hold a substantial shareholding.
- The real estate industry is competitive and fragmented.
Frequently Asked Questions (FAQs)
1. When does the Veegaland Developers IPO open and close?
The IPO opens on 10 September 2026 and closes on 15 September 2026.
2. What is the price band of the IPO?
The price band is ₹130 to ₹140 per share.
3. What is the lot size?
One lot is 107 shares. Applications are made in multiples of 107 shares.
4. What is the minimum investment for retail investors?
The minimum investment is ₹14,980 at the upper price band (1 lot of 107 shares).
5. When is the allotment date?
The allotment is expected to be finalised on 16 September 2026, with shares credited to demat accounts by 17 September 2026.
6. When is the listing date?
The shares are proposed to be listed on the BSE and the NSE on 18 September 2026 (tentative).
7. What does Veegaland Developers do?
It is a residential real estate developer based in Kochi, Kerala, developing residential, commercial, and mixed-use projects, with operations focused on Kerala.
8. What is the GMP of the Veegaland Developers IPO?
GMP, or Grey Market Premium, is an informal pre-listing price that sits outside the stock exchanges and is neither regulated nor verified. It shifts with day-to-day sentiment and does not confirm how the shares will list. A more reliable picture comes from the company's financials, valuation, and the risks in the RHP.
9. Who is the registrar for the IPO?
MUFG Intime India Private Limited is the registrar. Allotment status can be checked on its website.
Read the full Red Herring Prospectus (RHP): View the official RHP filed with SEBI and the exchanges.
Disclaimer: This page is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any securities. All figures are sourced from the company's Red Herring Prospectus and public filings and may change. Investments in securities are subject to market risks. Please read all offer documents carefully and consult a registered financial advisor before making any investment decision.