Virtual Galaxy Infotech Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Virtual Galaxy Infotech 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
₹142
Per ShareLot Size
1000 Shares
Minimum Investment
₹1,42,000
Issue Size
₹93.29 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
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
Virtual Galaxy Infotech Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
87.95%
Promoter Holding (Post-Issue)
64.7%
Issue Type
Book Building - SME
ISIN
INE0VRH01015
About the Company
Our Company is a SaaS product focused company engaged in providing Core Banking Software Solution, IT Solutions, ERP Implementation and Customized Software Solutions Development, IT services for the BFSI, ERP, and EGovernance domains. We are primarily involved in the development, customization, installation, and implementation of software applications, along with comprehensive post-implementation support, monitoring, and maintenance services for the delivered solutions. To provide a seamless experience to our clients, we offer a range of essential allied services, ensuring that all software needs are met under one roof. Our wide array of offerings covers the entire lifecycle of services, including consultation, architecture, solution design, implementation, monitoring, and managed services.
Industry Overview
The IT & BPM sector has become one of the most significant growth catalysts for the Indian economy, contributing significantly to the country's GDP and public welfare. The IT industry accounted for 7.5% of India's GDP in FY23, and it is expected to contribute 10% to India's GDP by 2025. As innovative digital applications permeate sector after sector, India is now prepared for the next phase of growth in its IT revolution. India is viewed by the rest of the world as having one of the largest Internet user bases and the cheapest Internet rates, with 76 crore citizens now having access to the Internet.
Company History
Virtual Galaxy Infotech Limited was originally incorporated on September 12, 1997 under the name "Virtual Galaxy Infotech Private Limited" under the provisions of the Companies Act, 1956 with the Registrar of Companies, Mumbai, Maharashtra. Subsequently, the status of the Company was changed to public limited Company and the name of the Company was changed to "Virtual Galaxy Infotech Limited" vide Special Resolution passed by the Shareholders at the Extra-Ordinary General Meeting of the Company held on September 14, 2024. The fresh certificate of incorporation consequent to conversion was issued on September 12, 2024 by the Registrar of Companies, CPC. The Corporate Identification Number of the Company is U93000MH1997PLC110645.
Products & Services
- The Company is a SaaS product focused company engaged in providing Core Banking Software Solution, IT Solutions, ERP Implementation and Customized Software Solutions Development, IT services for the BFSI, ERP, and E-Governance domains.
Growth Strategy
- Establishing a robust facility at Mihan SEZ, Nagpur to accommodate additional personnel.
- Expand our business and geographical footprint.
- Building-up as a professional organization & attracting bright talent to the company.
- Elevating market presence: Unleashing the potential of our product portfolio.
- Improving functional efficiency.
Customer Base
Wholesaler and Retailer
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 offer of upto 65,70,000 equity shares of face value of Rs. 10/- each (the "equity shares") of Virtual Galaxy Infotech Limited ("the company" or "Virtual Galaxy" or "VGIL" or "the issuer") for cash at a price of Rs. 142 per equity share including a share premium of Rs. 132 per equity share (the "issue price") aggregating to Rs. 93.29 crores ("the Issue"), of which upto 3,36,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 142 per equity share including a share premium of Rs. 132 per equity share aggregating to Rs. 4.77 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of upto 62,34,000 equity shares of face value of Rs. 10/- each at a price of Rs. 142 per equity share including a share premium of Rs. 132 per equity share aggregating to Rs. 88.52 crores is herein after referred to as the "net issue". The issue and the net issue will constitute [*]% and [*]% respectively of the post issue paid up equity share capital of the company. Price Band: Rs. 142 per equity share of the face value of Rs. 10 each. The cap price is 14.2 times of the face value of the equity shares. Bids can be made for a minimum of 1000 equity shares and in multiples of 1000 equity shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- One stop solution provider.
- Diversified business across several verticals.
- Diversified revenue streams.
- Recurring and non-recurring, repeat revenues from long standing customer relationships.
- Experienced promoters and senior management team with strong industry expertise and successful track record.
- Substantial portion of its revenues has been dependent upon the company Core Banking software i.e. E-Banker. The loss of any one or more of its major clients would have a material effect on the company business operations and profitability.
- The company depends on orders from the banks, government and private sector clients for majority of its revenue, which may expose it to risk. Additionally, the loss of or inability to qualify for such orders may adversely affect its business, financial condition, results of operations and prospects.
- The company derives a significant portion of its revenue from customers located in Maharashtra. Any adverse developments in the region could adversely affect its business, results of operations, cash flows and financial condition.
- The company revenues are dependent on clients concentrated in the BFSI segment. An economic slowdown or factors affecting this segment may have an adverse effect on its business, financial condition and results of operations.
- Most projects the company operates have been awarded primarily through a competitive bidding process and its financial performance is largely dependent on the company successful bidding for new projects. Its may not always be able to qualify for, compete and win projects. If the company is not able to successfully bid for newprojects, it may adversely affect its business operations and financial conditions.