Kochi-based real estate development firm Veegaland Developers Ltd is set to enter the stock market with an initial public offering that will open for subscription on September 9.
The price band for the issue has been fixed at ₹130-₹140 per equity share. The minimum bid is 107 equity shares, with bids thereafter in multiples of 107 shares. The issue will close on September 15.
The IPO comprises a fresh issue of up to 1.50 crore equity shares with a face value of ₹10 each, aggregating up to ₹210 crore. There is no offer-for-sale (OFS) component. Cumulative Capital Private Ltd. is the sole book-running lead manager to the issue.
Veegaland Developers is engaged in the planning, development and sale of multi-storied residential apartment projects in Kerala. Its projects span the mid-premium, premium, ultra-premium, luxe-series and ultra-luxury segments.
The company is part of the broader V-Guard Group, which traces its origins to 1977, when promoter Kochouseph Thomas Chittilappilly established to manufacture voltage stabilisers. The group has since evolved into a diversified business ecosystem., said a press release.
As of June 30, 2026, Veegaland Developers had completed 10 residential projects with an aggregate saleable area of 11.05 lakh square feet. These projects comprised 692 units, including 43 units allocated to landowners under joint development agreements. The company currently has 12 ongoing projects with an aggregate saleable area of 18,57,460 square feet, comprising 987 units.
The equity shares are proposed to be listed on BSE and NSE.