Veegaland Developers IPO: Subscription, GMP, Price Band, Allotment Date, Listing Date, Lot Size And More

Veegaland Developers IPO is currently open for subscription and is attracting huge interest from those who are looking to invest in Kerala's real estate sector. The Veegaland Developers IPO opened for subscription on September 10th and the issue will close on September 15th.

The company has fixed the Veegaland Developers IPO price band at Rs. 130 to Rs. 140 per share. The IPO has a total issue size of Rs. 210 crore, while the minimum retail investment required at the upper end of the price band is Rs. 14,980.

According to the latest available subscription data, the issue has received an overall subscription of 1.26 times, while the retail portion has been subscribed 1.81 times. The subscription figures can change until the IPO closes on September 15.

Veegaland Developers IPO Dates

The Veegaland Developers IPO subscription opened on September 10 and will be open until September 15th.
The Veegaland Developers IPO allotment date is expected to be September 16. Investors who receive shares are expected to see the shares credited to their demat accounts by September 17.

The Veegaland Developers IPO listing date is tentatively scheduled for September 18th. The shares are expected to be listed on both the National Stock Exchange (NSE) and BSE.

Investors should note that IPO allotment and listing dates can be subject to regulatory and procedural changes.

Veegaland Developers IPO Price Band And Lot Size

The company has fixed the Veegaland Developers IPO price band at Rs. 130 to Rs. 140 per share. The Veegaland Developers IPO lot size is 107 shares. Retail investors therefore need to apply for a minimum of one lot. At the upper price band of Rs. 140, the minimum investment for one lot works out to Rs. 14,980

Veegaland Developers IPO Issue Size

The total size of the Veegaland Developers IPO is Rs. 210 crore. The issue has been structured with an allocation of 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs) and 35% for Retail Individual Investors (RIIs).

Out of the total 1.50 crore shares, around 75 lakh shares have been reserved for QIBs, 22.50 lakh shares for NIIs and 52.50 lakh shares for retail investors.

Veegaland Developers IPO Anchor Investors

Before the public issue opened, Veegaland Developers raised Rs. 63 crore from anchor investors. Around 45 lakh shares were allocated to anchor investors ahead of the IPO.

Veegaland Developers IPO Estimated Listing Price

If the latest reported GMP of Rs. 12 is considered against the upper IPO price band of Rs. 140, the implied or indicative listing price comes to around Rs. 152 per share. Similarly, a GMP of Rs. 15 would imply a possible listing price of around Rs. 155. The company's market capitalisation is estimated at around Rs. 682.50 crore.

About Veegaland Developers

Founded in 2007, Veegaland Developers is a Kochi, Kerala-based real estate developer. The company operates primarily in Kerala and focuses on residential, commercial and mixed-use real estate projects.

Its concentration in the Kerala real estate market gives investors exposure to the state's property and construction sector.
The company's performance after listing will depend on several factors, including project execution, demand for residential and commercial properties, real estate prices, interest rates and the overall economic environment.

Veegaland Developers IPO Lead Manager And Registrar

The book running lead manager for the Veegaland Developers IPO is Cumulative Capital Pvt. Ltd. The registrar to the Veegaland Developers IPO is MUFG Intime India Pvt. Ltd.

Veegaland Developers IPO Allotment Date

The Veegaland Developers IPO allotment is expected to be finalised on September 16, after the IPO closes on September 15.
Once the allotment is finalised, investors can check whether they have received shares through the registrar's platform or through the relevant stock exchange mechanisms.

Shares are expected to be credited to successful investors' demat accounts by September 17.

Investors who do not receive an allotment can expect the applicable refund process to begin according to the IPO schedule.

Veegaland Developers IPO Listing Date

The Veegaland Developers IPO listing date is tentatively scheduled for September 18th on both NSE and BSE.