Real estate company Veegaland Developers Ltd on Tuesday announced a price band of ₹130-140 per equity share for its upcoming ₹210-crore initial public offering (IPO).
The company's IPO will open for public subscription on September 10 and conclude on September 15. The bidding for anchor investors will take place on September 9.
The IPO comprises a fresh issue of up to 1.50 crore equity shares aggregating to ₹210 crore, with no offer-for-sale component, according to a statement by the company.
Proceeds from the issue will be used to fund the company's ongoing projects and unidentified land acquisition, and for general corporate purposes.
The Keralam-based company is engaged in developing and selling multi-storied residential projects across mid-premium, premium, ultra-premium, luxe-series and ultra-luxury segments.
As of June 30, 2026, the company had completed 10 residential projects with a saleable area of 11.05 lakh square feet, comprising 692 units. All units in these completed projects have been sold. The company currently has 12 ongoing projects with an aggregate saleable area of 18.57 lakh square feet, comprising 987 units.
Veegaland Developers is part of V-Guard Group, which traces its origins to 1977 when promoter Kochouseph Thomas Chittilappilly established V-Guard Industries.
The equity shares are proposed to be listed on the BSE and the NSE. Cumulative Capital is the sole book-running lead manager for the issue.
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