Veegaland Developers Limited IPO
Offer terms, application timeline, financial context and company details in one place.
Issue at a glance
- Issue size
- ₹0.29 crore
- Face value
- ₹10
- Issue method
- Book Building
- Fresh issue
- ₹0.29 crore
- Symbol
- VEEGALAND
- ISIN
- INE1JTV01015
Subscription
0.91×overall subscribed
| Investor category | Applications | Shares bid | Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers(QIBs) | — | 14,43,537 | 0.45× |
| Foreign Institutional Investors(FIIs) | — | 0 | — |
| Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 0 | — |
| Mutual funds | — | 0 | — |
| Others | — | 14,43,537 | — |
| Non Institutional Investors | — | 19,83,566 | 0.82× |
| Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | — | 12,80,469 | 0.79× |
| Corporates | — | 7,383 | — |
| Individuals(Other than RIIs) | — | 5,51,585 | — |
| Others | — | 7,21,501 | — |
| Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | — | 7,03,097 | 0.87× |
| Corporates | — | 6,741 | — |
| Individuals(Other than RIIs) | — | 6,75,705 | — |
| Others | — | 20,651 | — |
| Retail Individual Investors(RIIs) | — | 68,13,118 | 1.21× |
| Cut Off | — | 60,20,355 | — |
| Price bids | — | 7,92,763 | — |
| Total | — | 1.02 | 0.91× |
Demand by bid price
About the company
Incorporated in 2007, Veegaland Developers Limited is engaged in real estate development, focusing on residential, commercial, and mixed-use projects. The company undertakes planning, construction, and execution of property developments. The company emphasizes quality construction, modern design, and timely project delivery. Its portfolio typically includes housing projects, commercial complexes, and integrated developments catering to diverse customer segments. Their business projects can be classified into the following categories based on the nature and description of each project: Completed Projects: 10 Completed Projects Ongoing Projects: 12 Ongoing Projects Upcoming Projects: 3 Upcoming Veegaland Developers Limited aims to create sustainable and value-driven properties by adopting efficient construction practices, customer-centric approaches, and compliance with regulatory standards in the real estate sector.
Financial snapshot
| Particulars | FY25 | FY26 |
|---|---|---|
| Revenue | ₹192.37 cr | ₹250.97 cr (30.46%) |
| PAT | ₹20.43 cr | ₹26.61 cr (30.25%) |
| PAT Margin | 10.62 % | 10.60 % (-0.19%) |
| EBITDA | ₹33.77 cr | ₹42.64 cr (26.27%) |
| EBITDA Margin | 17.55 % | 16.99 % (-3.19%) |
| ROE | 31.22 % | 9.97 % (-68.07%) |
| ROCE | 13.75 % | 11.89 % (-13.53%) |
| D/E | 2.70 | 0.32 (-88.15%) |
What to consider
Business strengths
- including the appointment of Directors, the timing and payment of dividends and the approval of most other actions requiring the approval of our shareholders. The interests of our Promoters and Promoter Group in their capacity as our Shareholders could be different from the interests of our other shareholders. Any such conflict may adversely affect our ability to execute our business strategy or to operate our business. - 22. Our ability to grow our business depends on identifying and acquiring suitable land parcels or development rights, including through utilisation of a portion of the Net Proceeds, and any failure, delay or restriction in doing so could adversely affect our operations, project pipeline, financial condition and growth prospects. Our ability to identify and acquire suitable land parcels or rights to develop land is a key factor in sustaining and growing our real estate development business.
Key risks
- The following is a general summary of the terms of the Issue and is not exhaustive, nor does it purport to contain a summary of all the disclosures in this Draft Red Herring Prospectus or all details relevant to prospective investors. This summary should be read in conjunction with, and is qualified in its entirety by, the more detailedinformation appearing elsewhere in this Draft Red Herring Prospectus, including “Risk Factors”, “The Issue”, “Capital Structure”, “Objects of the Issue”, “Industry Overview”, “Our Business”, “Restated Financial Information”, “Outstanding Litigation and Material Developments”, “Issue Procedure”, and “Description ofEquity Shares and Terms of the Articles of Association” on pages40,91,106,132,166,223,297,423,455 and476 respectively Summary of Business We are a real estate development Company engaged in the planning, and sale of multi-storied residential apartment projects in the state of Kerala, India.
Peer comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) |
|---|---|---|---|---|
| Veegaland Developers | 8.77 | 8.77 | 79.08 | 16.02 |
| Shriram Properties | 5.91 | 5.91 | 85.55 | 12.91 |
| Puravankara | 2.69 | 2.69 | 75.37 | 84.24 |