Veegaland Developers Sets IPO Price Band At ₹130-140
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Veegaland Developers is set to launch its IPO this month as the V-Guard Group-backed real estate company looks to raise capital for its residential development plans. The IPO will be entirely a fresh issue, with no offer for sale by existing shareholders.
The public issue will remain open for subscription from 10 to 15 September, with the anchor book scheduled to open a day earlier on 9 September. The company has fixed the initial public offering (IPO) price band at ₹130-140 per equity share, according to the red herring prospectus (RHP).
Veegaland Developers IPO: Key Details
IPO Open Date | 10 September 2026 |
IPO Close Date | 15 September 2026 |
Price Band | ₹130-140 |
Issue Size | ₹210 crore (upper band) |
Issue Type | Fresh issue |
Lot Size | 107 shares |
Minimum Investment | ₹14,980 |
Listing Date | 18 September 2026 |
The issue comprises 1.5 crore fresh equity shares, with 35% of the issue reserved for retail investors, 20% for qualified institutional buyers and 15% for non-institutional investors. Anchor investors will have a 30% allocation.
Issue Size Cut From ₹250 Crore
Veegaland Developers’ IPO has been scaled down from ₹250 crore to ₹210 crore. The company filed its draft IPO papers with Securities and Exchange Board of India (SEBI) in December 2025, and the regulator issued its observations in June 2026.
The company is part of the V-Guard Group and operates in the residential real estate segment under the brand Veegaland Homes. Its portfolio includes housing projects across Kerala, including Kochi, Thiruvananthapuram, Kozhikode and Thrissur.
Plan Of Use Of Funds Of Veegaland
The new capital will bolster the company’s residential development pipeline.
Its IPO documents outline the use of proceeds towards:
- Development of ongoing residential projects
- Development of upcoming projects
- Acquisition of an identified land parcel
- Potential acquisition of unidentified land parcels
- General corporate purposes
The company's earlier draft red herring prospectus (DRHP) had proposed using the proceeds across six ongoing and two upcoming projects.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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