Veegaland Developers, one of the leading real estate development companies, submitted its Draft Red Herring Prospectus to SEBI for ₹250 crores via Initial Public Offering (IPO).
According to the DRHP filed on Tuesday, this IPO consists solely of a fresh issue of ₹250 crores with no Offer-for-Sale component, meaning the entire proceeds will be used to support the company’s growth.
The funds of ₹111.60 crore raised from the fresh issue will be used towards its ongoing and upcoming projects. A portion of ₹18.49 crore will be utilized for the purchase of land for residential real estate projects. The remaining funds will be used for future land acquisitions and general corporate purposes.
Veegaland Developers is one of the leading real estate development companies involved in the planning, developing, and selling multi-storey residential apartments across our mid-premium, premium, ultra-premium, luxe-series, and ultra-luxury residential segments.
The business has completed 10 residential projects with a total saleable area of 11.05 lakh square feet and has nine ongoing projects covering 12.67 lakh square feet of saleable area as of October 31, 2025.
With the ownership of land reserves of about 7.20 acres in Kochi and Trivandrum, Kerala, the company is planning for future residential projects.
The sole book-running lead manager to the issue is Cumulative Capital. The Equity shares are proposed to be listed on BSE Limited and NSE Limited.
Veegaland Developers IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Veegaland Developers Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹110.08 | ₹90.62 | ₹14.53 |
| 2024 | ₹114.61 | ₹103.39 | ₹7.87 |
| 2025 | ₹196.22 | ₹167.95 | ₹20.43 |
| September 2025 | ₹125.14 | ₹109.46 | ₹11.53 |
Veegaland Developers IPO Valuation – FY2025
Veegaland Developers IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹8.17 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 36.96% |
| Net Asset Value (NAV): | ₹130.89 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Shriram Properties Limited | 4.53 | 18.76 | 5.87% | 79.58 | 823.44 Cr. |
| Puravankara Limited | (7.59) | – | (10.12%) | 72.98 | 2,013.61 Cr. |
Objects of the Issue
- Funding a part of the expense to be incurred in the development of our Ongoing Projects and Upcoming Projects;
- Acquisition of identified land parcel for development of residential real estate projects; and
- Funding unidentified acquisition of land and general corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Cumulative Capital Private Limited
