Veegaland Developers IPO
Veegaland Developers IPO is a mainboard IPO raising ₹210 Cr at ₹130 – ₹140 a share. It listed on 18 Sept 2026 at ₹154, +10.0% against its issue price of ₹140, and trades at ₹125 today (−10.8% since issue). It was subscribed 14× in total.
13.6 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. fresh issue stated + OFS by subtraction from exchange total Rs210 Cr. Checked: exchange issue size Rs210 Cr vs derived Rs210 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 67% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Shriram Properties Limited | 12.91× | 7.16% | ₹5.91 |
| Puravankara Limited | 84.24× | 3.23% | ₹2.69 |
| This issue | 16× | 16.02% | ₹8.77 |
derived: cut-off price Rs140 / stated EPS Rs8.77 (Fiscal 2026 diluted EPS (₹), restated consolidated under Ind AS). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.