Veegaland Developers IPO
Veegaland Developers Limited (VEEGALAND) · mainboard IPO on NSE and BSE · Book Building. Listed on 18 September 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +0.4% (likely range -14% to +7%), day's high +0.9%, chance of a gain 51%. Actual: +10.0% at the open, +10.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 32,30,768 | 5,73,83,779 | 17.8x | |
| NII (HNI) total | 24,23,077 | 4,36,76,009 | 18.0x | |
| Big NII (above ₹10 lakh) | 16,15,385 | 2,78,82,274 | 17.3x | |
| Small NII (₹2-10 lakh) | 8,07,692 | 1,57,93,735 | 19.6x | |
| Retail | 56,53,847 | 5,22,14,609 | 9.24x | |
| Total | 1,13,07,692 | 15,32,74,397 | 13.6x |
Bids on NSE and BSE together, as published by NSE, as of 15 Sep 2026, 05:42 PM. Shares offered exclude the anchor portion. 30% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Veegaland Developers's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Suraj Estate DevelopersDec 2023 | 24.3x | 18.9x | 9.30x | 15.6x | ₹424 Cr | -5.6% | -1.5% |
| KrossSep 2024 | 23.3x | 22.2x | 10.8x | 16.8x | ₹526 Cr | 0.0% | +12.9% |
| Concord Enviro SystemsDec 2024 | 17.3x | 14.2x | 5.56x | 10.7x | ₹497 Cr | +17.8% | +22.7% |
| Signatureglobal (India)Sep 2023 | 12.7x | 13.5x | 6.82x | 11.9x | ₹794 Cr | +15.3% | +23.1% |
| Venus Pipes and TubesMay 2022 | 12.0x | 15.7x | 19.0x | 16.3x | ₹165 Cr | +3.5% | +8.7% |
| Muthoot MicrofinDec 2023 | 17.5x | 13.2x | 7.61x | 11.5x | ₹1,009 Cr | -5.4% | -3.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Cumulative Capital | 2 | +8.6% | 100% |
Offer documents (NSE)
Frequently asked
What is the Veegaland Developers IPO price band and lot size? ₹130–140 per share, with a lot of 107 shares, so the smallest retail bid is ₹14,980.
How many times has it been subscribed? 13.6x overall: QIB 17.8x, NII 18.0x, retail 9.24x.
How did it list? It opened at ₹154, +10.0% against the issue price of ₹140, and closed its first day +4.5%.
