Veegaland Developers Sets IPO Price Band at ₹130-140 to Raise ₹210 Crore

Real estate company Veegaland Developers has announced its initial public offering, scheduled to open on September 10 with a price band of ₹130 to ₹140 per equity share. The ₹210-crore public issue consists entirely of a fresh issue of shares, with proceeds directed toward project funding, land acquisition, and corporate purposes.

Kerala-based real estate firm Veegaland Developers Ltd has announced a price band of ₹130 to ₹140 per equity share for its upcoming initial public offering (IPO), aiming to raise ₹210 crore. The public subscription period is scheduled to open on September 10 and will close on September 15. Prior to the public opening, bidding for anchor investors will take place on September 9.

According to the company's official statement, the IPO comprises solely a fresh issue of up to 1.50 crore equity shares aggregating to ₹210 crore. The offering does not include any offer-for-sale (OFS) component.

The proceeds generated from the public issue will be utilized by the company to fund its ongoing real estate projects, finance unidentified land acquisitions, and support general corporate purposes.

Veegaland Developers operates in the real estate sector, developing and selling multi-storied residential projects across various categories, including mid-premium, premium, ultra-premium, luxe-series, and ultra-luxury segments.

Operational data as of June 30, 2026, indicates that the company has completed 10 residential projects accounting for a saleable area of 11.05 lakh square feet across 692 units. The company reports that all units in these completed projects have been successfully sold. Additionally, Veegaland Developers currently maintains 12 ongoing projects representing an aggregate saleable area of 18.57 lakh square feet and comprising 987 units.

The company is a part of the V-Guard Group. The group's origins trace back to 1977 when promoter Kochouseph Thomas Chittilappilly established V-Guard Industries.

Following the conclusion of the public offering, the equity shares of Veegaland Developers are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Cumulative Capital has been appointed as the sole book-running lead manager for the issue.

"The upcoming public offering by Veegaland Developers highlights the continued capital-raising momentum in the regional real estate sector. With a purely fresh issue of ₹210 crore aimed at funding ongoing projects and land acquisition, the company is positioning itself for structured growth. Backed by the V-Guard Group heritage, this IPO provides an interesting opportunity for public market investors looking at established residential developers with a defined project pipeline." — Dr. Shishir Gupta, Founder & CEO, StartupLanes