Veegaland Developers IPO
MainboardVeegaland Developers is a South India-based real estate developer primarily focused on residential apartment and commercial projects in Kerala.
Verdict: Neutral
Est. GMP
+₹30 (+21%)
Price range
₹140
Lot size
—
Issue size
—
Allotment
16 Sept
Listing
18 Sept
Review
1. Grey market premium
★★★★★The grey market premium stands around 21%, indicating moderate listing gain expectations.
2. Company financials
★★★★★The company maintains steady execution, backed by strong promoter pedigree, though geographic concentration keeps scale limited.
3. Subscription status
★★★★★Bidding has just opened and initial demand trends are yet to build across categories.
4. Anchor investors
★★★★★Anchor participation details are limited or modest given the regional scale of the offering.
Company financials
Amount ₹ in Crores
| Period ended | Revenue | Expense | EBITDA | PAT | Assets |
|---|---|---|---|---|---|
| FY22 | — | — | — | — | — |
| FY23 | — | — | — | — | — |
| FY24 | — | — | — | — | — |
Subscription
Anchor investors
Anchor book details pending.
Anchor allocation details are not publicly detailed or available.
Risks
- ConcentrationSignificant revenue concentration in Kerala exposes the business to regional economic and real estate slowdowns.
- CyclicalReal estate development involves long gestation periods and vulnerability to raw material cost inflation.
- RegulatoryDelays in obtaining local municipal and environmental clearances can lead to project cost overruns.