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Veegaland Developers IPO

Veegaland Developers IPO

Construction - Real Estate
upcoming
₹13,910Min. investment
  1. Pre-apply
    TBA
  2. Bid start
    10 Sep
  3. Bid end
    15 Sep
  4. Allotment
    16 Sep
  5. Release of funds
    17 Sep
  6. Demat transfer
    17 Sep
  7. Listing
    18 Sep

Veegaland Developers Limited IPO Details

SectorConstruction - Real Estate
Price range₹130 – ₹140
IPO type
Regular
Lot size107 shares
Issue size₹210Cr
Red Herring Prospectus
Read
Market Cap
₹682.5CrLower than sector avg
RevenueApr 2025 - Mar 2026
₹250.98CrLower than sector avg
Growth rate3Y CAGR
50.52%

Veegaland Developers Limited IPO Overview

Veegaland Developers IPO open date

Veegaland Developers IPO will open for subscription on September 10, 2026, and the closing date for the IPO is September 15, 2026. After this, investors are expected to be updated about the allotment status on September 16, 2026.

Investors who have been allotted shares can expect them to be credited to their demat account on September 17, 2026. The shares will be listed on the BSE and NSE on Friday, September 18, 2026.

Veegaland Developers IPO price band

The IPO is a complete fresh issue with a price band set between ₹130 and ₹140 per share. Interested investors can choose a price within this band to apply for the IPO. Veegaland Developers IPO listing price will be determined on September 18, 2026. The listing price is the price at which a company’s shares debut on the stock exchanges.

Veegaland Developers IPO lot size

Veegaland Developers IPO details have been declared. The minimum lot size for an application is 107 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹210 crore.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

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Revenue
Higher revenue means strong sales and good market demand
This IPO
₹250.98Cr
This sector
₹459.59Cr
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PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹26.61Cr
This sector
₹44.01Cr
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Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹682.5Cr
This sector
₹4,335.58Cr
Compare with companies
P/E ratio
Lower ratio usually means stock is undervalued
This IPO
15.96
This sector
74.90
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D/E ratio
Lower ratio usually means fewer liabilities
This IPO
0.32
This sector
0.89
Compare with companies

Objectives

Development of ongoing projects
57.10%
General corporate purposes & more
42.90%

Strength and Weakness

Strong execution and sales track record

The company has completed projects within or ahead of RERA timelines and achieved 100% sell-through across its completed projects. Its ongoing projects have also recorded strong sales absorption.

Strong sales momentum in Kerala

Veegaland was ranked Kerala’s fastest-selling real estate developer as of December 8, 2025. Its sales value grew at a 45.10% CAGR between FY24 and FY26, reaching ₹393.62 crore in FY26.

Balanced project pipeline

The company has 10 completed, 12 ongoing and three upcoming projects, providing visibility for continued development and sales.

Integrated development model

Veegaland manages key stages of the project lifecycle, including land identification, approvals, construction, sales and customer handover, giving it greater control over execution.

Experienced promoter and management

Promoter Kochouseph Thomas Chittilappilly has over 49 years of diversified business experience, including more than 16 years in real estate and amusement parks.

About Veegaland Developers Limited

Veegaland Developers IPO will open for subscription on 10 September 2026. The IPO will remain open till 15 September, followed by listing on 18 September.
Incorporated in 2007, the company operates under the brand name Veegaland Homes, a Kerala-based residential real estate developer focused on multi-storeyed apartment projects. Its portfolio includes the mid-premium, premium, ultra-premium, Luxe and ultra-luxury segments. The company has a presence in Kochi, Thiruvananthapuram, Kozhikode and Thrissur.
Veegaland is part of the V-Guard Group, founded by promoter Kochouseph Thomas Chittilappilly, which has interests in consumer electricals, entertainment and fashion through V-Guard Industries, Wonderla Holidays and V-Star Creations. The company entered the residential real estate business in 2011 with its first project, Green Clouds, in Kochi.
The promoter has over 49 years of business experience, including more than 16 years in real estate and amusement parks. The company follows a design approach centred on quality, sustainability and biophilic features, including natural light, ventilation and landscaped spaces.
As of June 30, 2026, the company had 25 residential projects with 1,898 units and 34.24 lakh sq. ft. of saleable area. This included 10 completed, 12 ongoing and three upcoming projects. The completed projects covered 692 units across 11.05 lakh sq. ft., with all units sold. The ongoing projects comprised 994 units across 18.57 lakh sq. ft. The three upcoming projects, Fortune in Kochi, Sarovar in Kozhikode and East Fort in Kochi, together account for 212 units and an estimated 4.62 lakh sq. ft. of saleable area.
Sales across the portfolio have also remained strong. As of June 30, 2026, Veegaland had sold 63.62% of the saleable area in its ongoing projects, excluding the units given to landowners under JDAs. Sales were much higher in some projects. Green Fort, for instance, was fully sold, while Green Heights, Maybell and Green Capitol had achieved sales of 99.29%, 98.77% and 84.90%, respectively. The company had a contracted order book of ₹909.4 crore as of June 30, 2026. This is based on sale agreements signed for its ongoing projects. Veegaland also had 6.51 acres of land reserves in Kochi and Kozhikode, which gives it some headroom for future development. Its financial performance has also improved as the project portfolio has grown.
Veegaland operates in India's residential real estate market. The market was valued at ₹39.44 trillion in FY26 and is expected to reach ₹81.76 trillion by FY32. Residential real estate accounted for 60.7% of the overall Indian real estate market in FY26. Urbanisation, higher incomes, improving purchasing power and infrastructure development are supporting the segment, while housing demand is also spreading to Tier 2 and emerging cities.
The premium, luxury and boutique housing segment has seen particularly strong growth. India's boutique flats market increased from ₹0.36 trillion in FY21 to ₹5.77 trillion in FY26. It is expected to reach ₹17.20 trillion by FY32. Rising incomes, changing preferences and better infrastructure are among the factors supporting this growth.
Kerala's premium housing market is also expanding, particularly in Kochi, Thiruvananthapuram and Kozhikode. Infrastructure development, the growth of IT and GCC activity, rising purchasing power and NRI demand are supporting residential demand in these markets. The boutique flats market in Kochi grew at an 80.1% CAGR between FY21 and FY26, while Thiruvananthapuram and Calicut recorded CAGRs of 79.4% and 91.2%, respectively.
Veegaland is expected to benefit from this growth through its presence in these markets and its focus on premium and boutique housing. Its Luxe and luxury offerings, strong project absorption, land reserves and a ₹909.4 crore order book give it scope to participate in the continued expansion of Kerala's organised residential real estate market.
Now, Veegaland Developers is launching its initial public offering (IPO), which is a complete fresh issue of ₹210 crore only. Its shares will be listed on the NSE and BSE.

How to apply for Veegaland Developers IPO?

If you are interested in this investment opportunity but unsure how to apply for Veegaland Developers IPO, follow these steps.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Veegaland Developers IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Veegaland Developers IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app

Frequently asked questions

Investors can apply for the Veegaland Developers IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Veegaland Developers IPO is 210 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Opens on 10 Sep 2026