Veegaland Developers Ltd IPO
Status: Current
Overview
IPO date
10 Sept 2026 to 15 Sept 2026
Face value
₹ 10 per share
Price
₹ 130 to ₹140 per share
Issue Size
15,000,000 shares
(aggregating up to ₹ 210 Cr)
(aggregating up to ₹ 210 Cr)
Allotment Date
16 Sept 2026
Listing at
NSE
Issue type
Book Building
Sector
Realty
Unlock Stock of the Month
T&C*
Strengths vs Risks of Veegaland Developers Ltd
Know the pros & cons
Strengths
- 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.
- Experienced Promoter and professional management team - Our operations are led by an experienced Promoter and professional management team supported by strong in-house execution capabilities.
Risks
- The company's business is entirely concentrated in the state of Kerala, and its 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 its business, financial condition, results of operations and cash flows.
- The timely execution and completion of the company's Ongoing and Upcoming Projects involve significant risks and uncertainties, and any delays, cost overruns or inability to complete such projects could adversely affect its business, results of operations and financial condition.
- The company dependence on independent contractors and other specialist for construction and project execution may exposes it to risks relating to delays, cost overruns, quality issues and execution failures, which could adversely affect the company's business, financial condition, results of operations and cash flows.
- The company's revenues, profitability and return ratios fluctuate significantly over periods due to the project based and milestone-linked nature of its real estate development business, which may make period to- period comparisons difficult.
- The company is 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.
- The company's projects are subject to risks relating to obtaining, maintaining and renewing statutory and regulatory approvals and any delay, failures or withdrawal of such approvals could adversely affect its project timelines, business and financial performance.
- The company cannot assure you that the Objects of the Issue will be achieved within the expected time frame, or at all, and any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders approval.
- The company's business is capital intensive and requires it to incur upfront investment for land acquisition construction, regulatory approvals, and project management. Inability to fulfil the company's working capital requirements adequately could adversely affect its business, results of operations and financial condition.
- Demand for the company's residential projects is dependent on the availability and affordability of housing finance, as well as changes in taxation and stamp duty, and any adverse changes could affect its sales, cash flows and financial condition.
- The Company has entered into, and will continue to enters into, related party transactions and there can be no assurance that such transactions will always be in the best interests of its minority shareholders and will not have an adverse effect on the company's business, results of operations, financial condition, cash flows and prospects.
- The company's joint development arrangements may subject it to title, execution and counterparty risks, which could adversely affect the company's business, results of operations and financial condition.
- The company's proposed utilisation of the Net Proceeds for funding development and construction costs of its projects and acquisition of unidentified land is based on management estimates and vendor quotations, and any inability to procure materials, services or land in a timely manner or at commercially acceptable prices, cost overruns, delays in execution or deviations from underlying assumptions may adversely affect the company's project execution, business, financial condition, results of operations and cash flows.
- The company's business is dependent on the experience and continued involvement of its Promoter, Directors, Key Managerial Personnel and Senior Management, and the company's inability to attract and retain skilled personnel could adversely affect its business, results of operations and financial condition.
- The company has contingent liabilities which, if they materialize, could adversely affect its business, financial condition and results of operations.
- The company's business is dependent on a limited number of suppliers, vendors and contractors for procurement of construction materials, equipment and services, with its top 10 suppliers accounting for approximately 41.85% of the company's construction materials, labour and direct expenses in Fiscal 2026 and 70.56%, 65.63% of such expenses in Fiscal 2025 and Fiscal 2024, respectively, and any disruption in their operations or its relationship with them could adversely affect the company's project execution, business, results of operations and financial condition.
- The company has incurred negative cash flows from operating activities in certain periods, and may continue to experience volatility in its cash flows, which could adversely affect the company liquidity, financial condition and results of operations.
- Certain information in this Red Herring Prospectus relating to the company's projects, including estimates of saleable area, project timelines, configurations, funding requirements and proposed utilisation of the Net Proceeds is based on assumptions and estimates and may differ from actual outcomes.
- There are outstanding legal proceedings involving the Company, its Directors and the company's Promoters. Any adverse outcome in such proceedings may adversely affect its reputation, business, results of operations, cash flows and financial condition.
- The company's real estate projects have long gestation periods, and delays, cost overruns, regulatory constraints or adverse changes in market conditions in relation to its Ongoing Projects and Upcoming Projects could adversely affect the company's business, results of operations, financial condition and prospects.
- The company's business, brand perception and market positioning are significantly influenced by its association with the company's Promoter and the V-Guard Group, and any inability to continue to benefit from such association or any adverse developments affecting the Group or its Promoter could adversely affect the company's business, results of operations, financial condition and cash flows.
- Delays, defaults or cancellations by customers of the company's residential units could adversely affect its cash flows, liquidity, working capital, profitability and financial condition.
- The company's ongoing digital transformation initiatives, including migration of core systems and adoption of new technologies, may not deliver the anticipated benefits and could disrupt its operations.
- After the completion of the Issue, the company's Promoters and Promoter Group will continue to collectively hold substantial shareholding in the Company.
- The company's ability to grow its business depends on identifying and acquiring suitable land parcels or development rights, including through utilisation of a portion of the Net Proceeds, and any failures, delay or restriction in doing so could adversely affect the company operations, project pipeline, financial condition and growth prospects.
- The company's business is significantly dependent on demand for premium, ultra-premium and luxe residential developments and its inability to anticipate or respond to customer preferences in these segments could adversely affect the company's business, financial condition and results of operations.
- The company may faces challenges in expanding its operations beyond the company's existing geographical markets, and any failures to successfully enters or scale operations in new or adjoining regions could adversely affect its business, results of operations, cash flows and financial condition.
- Any delay in the implementation or deployment of the Net Proceeds towards the Objects of the Issue may adversely affect the company's business, results of operations, cash flows and financial condition.
- The real estate industry in which the company operates is competitive and fragmented, and increased competition may adversely affect its business, results of operations and financial condition.
- The company is subject to extensive statutory or governmental regulations, including the Real Estate (Regulation and Development) Act, 2016, and a change in laws, rules, regulations and legal uncertainties, including the withdrawal of certain benefits or adverse application of tax laws or any non-compliance of any applicable law, may adversely affect its business, results of operations and financial condition.
- Its may be subject to third-party indemnification, compensation or liability claims, which could adversely affect the company's business, results of operations, financial condition and reputation.
- The company funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.
- In the event that the company is unable to acquire lands for which the company has entered into agreements for purchase or similar arrangements with land owners for acquiring development rights, or such agreements are held to be invalid or expire, its may not be able to acquire the land and may also lose advances paid towards acquisition of such lands.
- The company operations and the workforce, customers and/ or third parties on property sites are exposed to various hazards, which could adversely affect its business, results of operations and financial condition.
- There have been certain instances of delays and non-compliances with respect to statutory corporate filings and managerial appointments in the past, which could expose it to regulatory actions, penalties and reputational risk.
- Any future bonus issuances of Equity Shares are dependent upon adequate availability of reserves. Lack of adequate reserves may restrict the company's ability to enhance liquidity of Equity Shares.
- The company's individual Promoter has provided guarantees in connection with its borrowing and the revocation of all or any of such guarantees may adversely affect the company's business, results of operations and financial condition.
- The company's financing arrangements contain certain restrictive covenants, and non-compliance with any of the covenants of its financing agreements could trigger an event of default.
- The company is subject to risks arising from interest rate fluctuations, which could reduce its profitability and adversely affect the company's business, cash flows, financial condition and results of operations.
- The company relies on certain registered and pending trademarks for its brand identity, and any inability to protect, maintain or enforce the company's intellectual property rights could adversely affect its business, reputation and results of operations.
- Its may be subject to, illegal encroachments on the land parcels owned by the company. Challenges pertaining to clearance of encroachment could have a material adverse effect on its business, results of operations and financial condition.
- The company may not have sufficient insurance coverage to cover its economic losses as well as certain other risks, not covered in the company's insurance policies, which could adversely affect business, results of operations and financial condition.
- Non-compliance with, or changes in, safety, health and environmental laws and regulations could adversely affect the company's projects, business and financial condition.
- The average cost of acquisition of Equity Shares acquired by the company's Promoters may be less than the Issue Price.
- The company has outstanding dues to its creditors, including Micro, Small and Medium Enterprises, and any failures or delay in payment of such dues could adversely affect the company's reputation, business, cash flows and financial condition.
- Failures to successfully implement the company's business strategies and development plans could materially and adversely affect its business, results of operations and financial condition.
- If the company is unable to establish and maintain an effective internal controls and compliance system, its business and reputation could be adversely affected.
- Industry information included in this Red Herring Prospectus has been derived from the ICRA Report, which was prepared by ICRA and exclusively commissioned and paid for by the Company for the purposes of the Issue, and any reliance on information from the ICRA Report for making an investment decision in the Issue is subject to inherent risks.
- This Red Herring Prospectus includes certain Non-GAAP Measures, financial and operational performance indicators and other industry measures related to the company operations and financial performance. The Non-GAAP Measures and industry measures may vary from any standard methodology that is applicable across the Real Estate segment and, therefore, may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- While most of the company's Directors have prior experience serving in listed companies in various capacities, the Company has not previously operated as a listed entity, and ensuring compliance with applicable listing-related regulatory requirements may requires enhanced governance processes and management attention.
- The Company cannot assure payment of dividends on Equity Shares in the future.
- The company's Promoters, its Directors and Key Managerial Personnel have interests in the company's business other than the reimbursement of expenses incurred or normal remuneration or benefits.
- Fraud or improper conduct could harm the company's reputation and disrupt project completion and adversely affect its business and results of operations.
- The Government of India or state governments may exercise rights of compulsory purchase or eminent domain over the company or its land, which could adversely affect the company's business.
- Any future delay or non-compliance in payment of statutory dues by the Company could expose it to penalties and adversely affect the company's business, financial condition and results of operations.
Veegaland Developers Ltd Peer Comparison
Understand the company’s industry standing
Veegaland Developers Limited
Shriram Properties Limited
Puravankara Limited
Face Value
10
10
5
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
250.98
1267.41
3739.83
EPS-Basis
8.77
5.91
2.69
EPS-Diluted
8.77
5.91
2.69
NAV Per Share
79.08
85.55
75.37
P/E-Basic EPS
---
12.91
84.24
P/E-Diluted EPS
---
---
---
RONW(%)
16.02
7.16
3.23
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 10 Sept 2026 & closes on 15 Sept 2026.
Veegaland Developers Limited was originally incorporated as Vintes Solutions Private Limited', a private limited company dated August 10, 2007. Subsequently, the name of Company was changed from Vintes Solutions Private Limited' to Vintes Developers Private Limited' on October 22, 2010 and to Veegaland Developers Private Limited' dated August 11, 2011 and upon the conversion of Company to a public limited, it has changed to Veegaland Developers Limited' and a fresh certificate of incorporation dated November 6, 2025 is issued by Central Processing Centre.
Veegaland Developers is real estate developer engaged in the field of construction, development, sales, management and operation of residential projects. The projects are developed across mid-premium, premium, ultrapremium, luxe-series and ultra-luxury residential segments and have been implemented in accordance with the applicable provision of RERA. Apart from this, Company operate under the brand name Veegaland Homes' and has undertaken projects in Kochi, Thiruvananthapuram, Kozhikode and Thrissur in the state of Kerala, India.
The Company form part of the broader V-Guard Group', which traces its origins to 1977, when the Promoter, Kochouseph T. Chittilappilly, established V-Guard Industries for the manufacture of voltage stabilisers. Over the decades, the Group has evolved into a diversified business ecosystem with interests spanning consumer electricals through V-Guard Industries Limited', entertainment through Wonderla Holidays Limited' and fashion and apparel through V-Star Creations Private Limited'. The Group undertakes philanthropic, healthcare and wellness activities through the K Chittilappilly Foundation' and Chittilappilly Square', operated under the K. Chittilappilly Trust'. As part of diversification strategy of the said Group, Company was incorporated in 2007 and it entered the real estate development sector in 2011 upon commencing the residential operations to real estate.
Thereafter, the Company commenced the business activities in 2011 with the receipt of first building permit for Green Clouds', a multi-storey apartment in Kochi, Kerala positioned under the ultra-luxury segment. Thereafter, it expanded operations within Kochi and subsequently into other cities in Kerala, including Thiruvananthapuram, Kozhikode and Thrissur, by undertaking residential apartment developments of varying scales and configurations.
Company has filed a Draft Red Herring Prospectus with SEBI & is planning to raise funds via IPO aggregating to Rs 250 crore through fresh issue.
Veegaland Developers Ltd IPO will close on 15 Sept 2026.
- 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.
- Experienced Promoter and professional management team - Our operations are led by an experienced Promoter and professional management team supported by strong in-house execution capabilities.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Kochouseph Thomas Chittilappil | 22698500 | 67.25 | 22698500 | 46.56 |
| 2 | K. Chittilappilly Trust | 8350000 | 24.74 | 8350000 | 17.13 |
- The company's business is entirely concentrated in the state of Kerala, and its 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 its business, financial condition, results of operations and cash flows.
- The timely execution and completion of the company's Ongoing and Upcoming Projects involve significant risks and uncertainties, and any delays, cost overruns or inability to complete such projects could adversely affect its business, results of operations and financial condition.
- The company dependence on independent contractors and other specialist for construction and project execution may exposes it to risks relating to delays, cost overruns, quality issues and execution failures, which could adversely affect the company's business, financial condition, results of operations and cash flows.
- The company's revenues, profitability and return ratios fluctuate significantly over periods due to the project based and milestone-linked nature of its real estate development business, which may make period to- period comparisons difficult.
- The company is 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.
- The company's projects are subject to risks relating to obtaining, maintaining and renewing statutory and regulatory approvals and any delay, failures or withdrawal of such approvals could adversely affect its project timelines, business and financial performance.
- The company cannot assure you that the Objects of the Issue will be achieved within the expected time frame, or at all, and any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders approval.
- The company's business is capital intensive and requires it to incur upfront investment for land acquisition construction, regulatory approvals, and project management. Inability to fulfil the company's working capital requirements adequately could adversely affect its business, results of operations and financial condition.
- Demand for the company's residential projects is dependent on the availability and affordability of housing finance, as well as changes in taxation and stamp duty, and any adverse changes could affect its sales, cash flows and financial condition.
- The Company has entered into, and will continue to enters into, related party transactions and there can be no assurance that such transactions will always be in the best interests of its minority shareholders and will not have an adverse effect on the company's business, results of operations, financial condition, cash flows and prospects.
- The company's joint development arrangements may subject it to title, execution and counterparty risks, which could adversely affect the company's business, results of operations and financial condition.
- The company's proposed utilisation of the Net Proceeds for funding development and construction costs of its projects and acquisition of unidentified land is based on management estimates and vendor quotations, and any inability to procure materials, services or land in a timely manner or at commercially acceptable prices, cost overruns, delays in execution or deviations from underlying assumptions may adversely affect the company's project execution, business, financial condition, results of operations and cash flows.
- The company's business is dependent on the experience and continued involvement of its Promoter, Directors, Key Managerial Personnel and Senior Management, and the company's inability to attract and retain skilled personnel could adversely affect its business, results of operations and financial condition.
- The company has contingent liabilities which, if they materialize, could adversely affect its business, financial condition and results of operations.
- The company's business is dependent on a limited number of suppliers, vendors and contractors for procurement of construction materials, equipment and services, with its top 10 suppliers accounting for approximately 41.85% of the company's construction materials, labour and direct expenses in Fiscal 2026 and 70.56%, 65.63% of such expenses in Fiscal 2025 and Fiscal 2024, respectively, and any disruption in their operations or its relationship with them could adversely affect the company's project execution, business, results of operations and financial condition.
- The company has incurred negative cash flows from operating activities in certain periods, and may continue to experience volatility in its cash flows, which could adversely affect the company liquidity, financial condition and results of operations.
- Certain information in this Red Herring Prospectus relating to the company's projects, including estimates of saleable area, project timelines, configurations, funding requirements and proposed utilisation of the Net Proceeds is based on assumptions and estimates and may differ from actual outcomes.
- There are outstanding legal proceedings involving the Company, its Directors and the company's Promoters. Any adverse outcome in such proceedings may adversely affect its reputation, business, results of operations, cash flows and financial condition.
- The company's real estate projects have long gestation periods, and delays, cost overruns, regulatory constraints or adverse changes in market conditions in relation to its Ongoing Projects and Upcoming Projects could adversely affect the company's business, results of operations, financial condition and prospects.
- The company's business, brand perception and market positioning are significantly influenced by its association with the company's Promoter and the V-Guard Group, and any inability to continue to benefit from such association or any adverse developments affecting the Group or its Promoter could adversely affect the company's business, results of operations, financial condition and cash flows.
- Delays, defaults or cancellations by customers of the company's residential units could adversely affect its cash flows, liquidity, working capital, profitability and financial condition.
- The company's ongoing digital transformation initiatives, including migration of core systems and adoption of new technologies, may not deliver the anticipated benefits and could disrupt its operations.
- After the completion of the Issue, the company's Promoters and Promoter Group will continue to collectively hold substantial shareholding in the Company.
- The company's ability to grow its business depends on identifying and acquiring suitable land parcels or development rights, including through utilisation of a portion of the Net Proceeds, and any failures, delay or restriction in doing so could adversely affect the company operations, project pipeline, financial condition and growth prospects.
- The company's business is significantly dependent on demand for premium, ultra-premium and luxe residential developments and its inability to anticipate or respond to customer preferences in these segments could adversely affect the company's business, financial condition and results of operations.
- The company may faces challenges in expanding its operations beyond the company's existing geographical markets, and any failures to successfully enters or scale operations in new or adjoining regions could adversely affect its business, results of operations, cash flows and financial condition.
- Any delay in the implementation or deployment of the Net Proceeds towards the Objects of the Issue may adversely affect the company's business, results of operations, cash flows and financial condition.
- The real estate industry in which the company operates is competitive and fragmented, and increased competition may adversely affect its business, results of operations and financial condition.
- The company is subject to extensive statutory or governmental regulations, including the Real Estate (Regulation and Development) Act, 2016, and a change in laws, rules, regulations and legal uncertainties, including the withdrawal of certain benefits or adverse application of tax laws or any non-compliance of any applicable law, may adversely affect its business, results of operations and financial condition.
- Its may be subject to third-party indemnification, compensation or liability claims, which could adversely affect the company's business, results of operations, financial condition and reputation.
- The company funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.
- In the event that the company is unable to acquire lands for which the company has entered into agreements for purchase or similar arrangements with land owners for acquiring development rights, or such agreements are held to be invalid or expire, its may not be able to acquire the land and may also lose advances paid towards acquisition of such lands.
- The company operations and the workforce, customers and/ or third parties on property sites are exposed to various hazards, which could adversely affect its business, results of operations and financial condition.
- There have been certain instances of delays and non-compliances with respect to statutory corporate filings and managerial appointments in the past, which could expose it to regulatory actions, penalties and reputational risk.
- Any future bonus issuances of Equity Shares are dependent upon adequate availability of reserves. Lack of adequate reserves may restrict the company's ability to enhance liquidity of Equity Shares.
- The company's individual Promoter has provided guarantees in connection with its borrowing and the revocation of all or any of such guarantees may adversely affect the company's business, results of operations and financial condition.
- The company's financing arrangements contain certain restrictive covenants, and non-compliance with any of the covenants of its financing agreements could trigger an event of default.
- The company is subject to risks arising from interest rate fluctuations, which could reduce its profitability and adversely affect the company's business, cash flows, financial condition and results of operations.
- The company relies on certain registered and pending trademarks for its brand identity, and any inability to protect, maintain or enforce the company's intellectual property rights could adversely affect its business, reputation and results of operations.
- Its may be subject to, illegal encroachments on the land parcels owned by the company. Challenges pertaining to clearance of encroachment could have a material adverse effect on its business, results of operations and financial condition.
- The company may not have sufficient insurance coverage to cover its economic losses as well as certain other risks, not covered in the company's insurance policies, which could adversely affect business, results of operations and financial condition.
- Non-compliance with, or changes in, safety, health and environmental laws and regulations could adversely affect the company's projects, business and financial condition.
- The average cost of acquisition of Equity Shares acquired by the company's Promoters may be less than the Issue Price.
- The company has outstanding dues to its creditors, including Micro, Small and Medium Enterprises, and any failures or delay in payment of such dues could adversely affect the company's reputation, business, cash flows and financial condition.
- Failures to successfully implement the company's business strategies and development plans could materially and adversely affect its business, results of operations and financial condition.
- If the company is unable to establish and maintain an effective internal controls and compliance system, its business and reputation could be adversely affected.
- Industry information included in this Red Herring Prospectus has been derived from the ICRA Report, which was prepared by ICRA and exclusively commissioned and paid for by the Company for the purposes of the Issue, and any reliance on information from the ICRA Report for making an investment decision in the Issue is subject to inherent risks.
- This Red Herring Prospectus includes certain Non-GAAP Measures, financial and operational performance indicators and other industry measures related to the company operations and financial performance. The Non-GAAP Measures and industry measures may vary from any standard methodology that is applicable across the Real Estate segment and, therefore, may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- While most of the company's Directors have prior experience serving in listed companies in various capacities, the Company has not previously operated as a listed entity, and ensuring compliance with applicable listing-related regulatory requirements may requires enhanced governance processes and management attention.
- The Company cannot assure payment of dividends on Equity Shares in the future.
- The company's Promoters, its Directors and Key Managerial Personnel have interests in the company's business other than the reimbursement of expenses incurred or normal remuneration or benefits.
- Fraud or improper conduct could harm the company's reputation and disrupt project completion and adversely affect its business and results of operations.
- The Government of India or state governments may exercise rights of compulsory purchase or eminent domain over the company or its land, which could adversely affect the company's business.
- Any future delay or non-compliance in payment of statutory dues by the Company could expose it to penalties and adversely affect the company's business, financial condition and results of operations.
The Issue type of Veegaland Developers Ltd is Book Building.
The minimum application for shares of Veegaland Developers Ltd is 107.
The total shares issue of Veegaland Developers Ltd is 15000000.
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.