Veegaland Developers Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Veegaland Developers Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹130 - ₹140
Per ShareLot Size
107 Shares
Minimum Investment
₹13,910
Issue Size
₹210 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Veegaland Developers Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
92%
Promoter Holding (Post-Issue)
63.69%
Issue Type
Book Building
ISIN
INE1JTV01015
About the Company
We are a real estate development Company engaged in the planning, development and sale of multi-storied residential apartment projects in the state of Kerala, India. Our projects are developed across our mid-premium, premium, ultra-premium, luxe-series and ultra-luxury residential segments and are implemented in accordance with the applicable provision of RERA. We operate under our brand name `Veegaland Homes' and as on date we have undertaken projects in Kochi, Thiruvananthapuram, Kozhikode and Thrissur in the state of Kerala, India.
Company History
Our Company was originally incorporated as `Vintes Solutions Private Limited', a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated August 10, 2007, issued by the Assistant Registrar of Companies, Kerala and Lakshadweep. Subsequently, pursuant to a special resolution passed by our shareholders dated September 28, 2010, the name of our Company was changed from `Vintes Solutions Private Limited' to `Vintes Developers Private Limited' to align the name of the Company with the objects of the Company and a fresh certificate of incorporation dated October 22, 2010, was issued by the Assistant Registrar of Companies, Kerala and Lakshadweep. Subsequently, pursuant to a special resolution passed by our shareholders dated July 29, 2011, the name of our Company was changed from `Vintes Developers Private Limited' to `Veegaland Developers Private Limited' in order to utilise the Veegaland brand name and a fresh certificate of incorporation dated August 11, 2011, was issued by the Registrar of Companies, Kerala and Lakshadweep. Upon the conversion of our Company to a public limited company pursuant to a special resolution passed by our shareholders dated September 30, 2025, the name of our Company was changed from `Veegaland Developers Private Limited' to `Veegaland Developers Limited' and a fresh certificate of incorporation dated November 6, 2025, issued by the Registrar of Companies, Central Processing Centre.
Growth Strategy
- Ensuring timely execution of ongoing and Upcoming Projects.
- Expansion through disciplined land acquisition and phased project development.
- Strengthening product positioning with strategic expansion of the Luxe portfolio.
- Deepening market presence through structured brand-building, multi-channel outreach and customer-centric sales initiatives.
- Expanding our digital footprint to widen our market reach.
- Expanding the use of IT-driven processes across the development and customer lifecycle.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 15,000,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Veegaland Developers Limited ("The Company" or the "Issuer") for cash at a price of Rs.140 per equity share (including a share premium of Rs. 130 per equity share) ("Issue Price") aggregating up to Rs. 210.00 Crores ("The Issue"). The issue will constitute [*]% of the post-issue paid-up equity share capital of the company. Price Band: Rs. 130 to Rs. 140 per equity share of face value of Rs. 10 each. The floor price and the cap price are 13 times and 14 times the face value of the equity shares, respectively. Bids can be made for a minimum of 107 equity shares of face value of Rs. 10 each and in multiples of 107 equity shares of face value of Rs. 10 each thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Proven execution and complete sell-through in delivered projects - We have a demonstrated track record of completing residential projects within or ahead of RERA timelines, with 100% sell-through achieved in all completed projects.
- Strong sales absorption across Ongoing Projects - Our Ongoing Projects have witnessed significant sales absorption during the construction phase, supporting milestone-based collections and revenue visibility.
- Recognised sales velocity in core operating markets - According to the ICRA Report, we are ranked as Kerala's fastest-selling real estate developer, reflecting demand across our residential portfolio.
- Improving sales performance and revenue visibility - Our sales value has grown at a CAGR of 45.10% from Fiscal 2024 to Fiscal 2026, supported by higher realizations.
- Balanced portfolio across stages of development - Our portfolio comprises Completed, Ongoing and Upcoming projects, providing continuity of operations and visibility into future development activity.
- Our business is entirely concentrated in the state of Kerala, and our performance is therefore highly dependent on residential real estate market conditions, regulatory developments, economic factors and climatic events in Kerala, any of which could adversely affect our business, financial condition, results of operations and cash flows.
- The timely execution and completion of our Ongoing and Upcoming Projects involve significant risks and uncertainties, and any delays, cost overruns or inability to complete such projects could adversely affect our business, results of operations and financial condition.
- Our dependence on independent contractors and other specialist for construction and project execution may exposes us to risks relating to delays, cost overruns, quality issues and execution failures, which could adversely affect our business, financial condition, results of operations and cash flows.
- Our revenues, profitability and return ratios fluctuate significantly over periods due to the projectbased and milestone-linked nature of our real estate development business, which may make periodto- period comparisons difficult
- We are subject to risks arising from increases in construction input costs, price volatility of key materials and potential disruptions in supply chains, which may adversely affect project execution, profitability, cash flows and financial condition.