Mumbai: Veegaland Developers Limited will launch its initial public offering on Thursday, September 10, 2026, with a price band of Rs 130-140 per equity share. The issue will close on Tuesday, September 15.
Anchor investor bidding is scheduled for Wednesday, September 9. Investors can bid for a minimum of 107 equity shares and in multiples of 107 thereafter.
Rs 210 Crore Fresh Issue
The IPO comprises a fresh issue of up to 1.50 crore equity shares with a face value of Rs 10 each, aggregating up to Rs 210 crore. There is no offer-for-sale component, meaning the entire issue will comprise fresh capital.
Cumulative Capital Private Limited is the sole book-running lead manager.
The shares are proposed to be listed on the BSE and NSE, with BSE designated as the stock exchange for the issue.
Kerala Real Estate Focus
Veegaland Developers develops multi-storeyed residential apartment projects in Kerala across mid-premium, premium, ultra-premium, luxe-series and ultra-luxury categories.
According to an ICRA Report cited by the company, as of December 8, 2025, Veegaland Developers was Kerala’s fastest-selling real estate developer and among the state’s recognised residential developers.
The company is part of the broader V-Guard Group, whose origins date to 1977, when promoter Kochouseph Thomas Chittilappilly established V-Guard Industries to manufacture voltage stabilisers.
22 Residential Projects
As of June 30, 2026, Veegaland Developers had completed 10 residential projects covering 11.05 lakh square feet of saleable area and comprising 692 units. All units in these completed projects had been sold.
It also had 12 ongoing projects with an aggregate saleable area of 18.57 lakh square feet and comprising 987 units.
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Under the book-building process, up to 50% of the issue will be available for qualified institutional buyers. At least 15% will be allocated to non-institutional bidders and at least 35% to retail individual bidders, subject to valid bids.
Except for anchor investors, bidders must participate through the ASBA process.
