Veegaland Developers Limited

Veegaland Developers Limited IPO: GMP, Profit, Price & expert review

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Veegaland Developers Limited is a Kerala-based real estate developer engaged in planning, development and sale of multi-storied residential apartment projects across mid-premium to ultra-luxury segments.

It has completed 10 projects totaling 11.05 lakh sq ft and 9 ongoing projects totaling 12.67 lakh sq ft with 7.20 acres of land reserves in Kochi and Trivandrum

Veegaland Developers was incorporated in the year 2007 & Mr. Kochouseph Thomas Chittilappilly serves as the Managing Director of the company.

Veegaland Developers Limited has filed DRHP with SEBI for a proposed IPO with an issue size of ₹250 Cr consisting entirely as Fresh Issue of ₹250 Cr and no Offer for Sale (OFS).

Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.

Check DRHP
Check IPO Allotment
Visit Official Website
Issue Size:₹250 Cr
Fresh Issue:₹250 Cr
Offer for Sale:₹ 00 Cr
Price Range:TBA
Lot Size:TBA
GMPPending

Veegaland Developers Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 65.4 Cr
Revenue:₹ 192.4 Cr
EBITDA₹ 33.8 Cr
PAT₹ 20.4 Cr
EBITDA Margin:~17.21%
PAT Margin~ 10.41%
Face Value:Rs. 10 per Equity Share

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Borrowing prepayment~ ₹ 00 Cr
Funding of ongoing and new project~ ₹ 00 Cr
Acquisition of land parcels~ ₹ 00 Cr
General Corporate Purpose~ ₹ 00 Cr

Veegaland Developers Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 108.9₹ 110.8₹ 192.4
PAT (₹ Cr)₹ 14.5₹ 7.9₹ 20.4
Asset (₹ Cr)₹ 196.0₹ 221.0₹ 326.7
Net Worth (₹ Cr)₹ 37.2₹ 45.1₹ 65.4

Veegaland Developers Ltd IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
25-Feb₹ –₹ –₹ –
24-Feb₹ –₹ –₹ –
23-Feb₹ –₹ –₹ –
22-Feb₹ –₹ –₹ –
21-Feb₹ –₹ –₹ –
Veegaland Developers Limited

Veegaland Developers Limited IPO Pros & Cons

Strengths:

  • Operates in the high-growth Kerala residential real estate market.
  • Strong project execution track record with completed and ongoing developments.
  • Focus on mid-premium to luxury housing, offering better margins.
  • Fresh issue IPO, bringing direct funds for project development.
  • Healthy land bank and pipeline supporting future growth visibility.

Risks:

  • Business is region-centric, primarily concentrated in Kerala.
  • Real estate sector is cyclical and interest-rate sensitive.
  • Project delays or regulatory approvals can impact cash flows.
  • No disclosed market share, making competitive positioning unclear.
  • Profitability depends heavily on property demand and sales velocity.

Veegaland Developers Limited Promoters – Pre offer equity (Approx)

Promoters%Shares
Kochouseph Thomas Chittilappilly~67.25%
K. Chittilappilly Trust~24.74%

Veegaland Developers Limited Lot Size details

Application TypeLot SizeNo. of LotsNo. of SharesInvestment Amount
Retail(Min)–1–₹ –
Retail (Max)–13–₹ –
Small HNI (Min)–14–₹ –
Small HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Veegaland Developers Limited 

Lead / Book Running Lead ManagersCumulative Capital Private Limited
Registrar (RTA)MUFG Intime India Private Limited

Veegaland Developers Limited FAQ

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