Veegaland Developers IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 5 | Final |
|---|---|---|---|---|
| QIB | 0.45x | 0.45x | 0.45x | 19.13x |
| NII | 0.39x | 0.94x | 0.94x | 19.41x |
| bNII > ₹10L | 0.32x | 0.84x | 0.84x | 18.59x |
| sNII 2-10L | 0.53x | 1.13x | 1.15x | 21.06x |
| Retail | 0.82x | 1.65x | 1.67x | 9.95x |
| Total | 0.62x | 1.16x | 1.17x | 14.60x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 114.61 | 196.22 | 254.16 |
| Expense | 103.39 | 167.95 | 217.96 |
| Profit (PAT) | 7.87 | 20.43 | 26.61 |
| Total Assets | 221.01 | 326.65 | 483.81 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Veegaland Developers This IPO | 5.46 | 25.64 | 16.02 | 79.08 | - |
| Shriram Properties Limited | 5.91 | 12.91 | 7.16 | 85.55 | 1,267.41 Cr |
| Puravankara Limited | 2.69 | 84.24 | 3.23 | 75.37 | 3,739.83 Cr |
Promoters & Holding Pattern
Promoters: Kochouseph Thomas Chittilappilly and K. Chittilappilly Trust
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 3,10,48,500 | 92.00% |
| Promoter Holding Post Issue | 3,10,48,500 | 63.69% |
Strengths & Risks
- Heavily oversubscribed — 14.6x overall (final).
- Strong institutional (QIB) demand — 19.1x.
- Revenue grew 30% in the latest reported year.
- Solid profit margin — 10.5%.
- Strong return on equity — 16%.
Our data checks haven't flagged a specific concern for Veegaland Developers — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Veegaland Developers
Veegaland Developers, founded in 2007, is a real estate development firm that works on residential, commercial, and mixed-use projects. From planning and construction to modern design and timely execution of property developments, Veegaland Developers handles everything. Its project portfolio includes housing projects, commercial complexes, and integrated developments serving a wide range of customers. So far, the firm has completed 10 residential projects aggregating to 11.05 lakh square feet of saleable area; 12 are ongoing projects, and 3 are upcoming ones. The company’s main aim is to build environmentally responsible properties, be useful, and provide good value to the customers.
Company Contact Information
Veegaland Developers Ltd., XXXV/564, 4th Floor,, K C F Tower, Bharat Matha College Road,, Kakkanadu, Thrikkakara,, Ernakulam, Kerala, 682021
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects | 119.83 |
| Funding unidentified acquisition of land and general corporate purposes | - |
Resources & Documents
Anchor Investors
Veegaland Developers IPO - Quick Take
Veegaland Developers has set a price band of Rs 130–Rs 140 per share for an issue size of Rs 210 crore. The stock listed with a 10.00% gain versus its issue price on September 18, 2026.
The issue is promoted by Kochouseph Thomas Chittilappilly and K. Chittilappilly Trust with Cumulative Capital Pvt.Ltd. acting as lead manager. Anchor investors have committed Rs 63 crore ahead of the public issue — about 30% of the total issue size. Anchor allocation was completed on September 09, 2026. Net proceeds will primarily be used towards funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects (Rs 120 crore) and funding unidentified acquisition of land and general corporate purposes.
At the upper end of the price band, the issue is priced at a post-issue P/E of 25.64x. On fundamentals, the company is posting revenue growth of 29.5%, a profit margin of 10.5%, return on equity of 16.0% in its most recent reported period. Listed peers in this segment include Shriram Properties Limited (P/E 12.91x) and Puravankara Limited (P/E 84.24x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Veegaland Developers IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 4.3%. Of the 32 Mainboard IPOs we have tracked with a final GMP under 10%, 19 listed above, 6 flat and 7 below the issue price; Veegaland Developers listed 10% above its issue price.
See the full Veegaland Developers GMP history and trend, or learn how grey market premium works and how reliable it is.
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