Veegaland Developers, a realty firm based in the southern Indian state of Kerala, and a part of the diverse V-Guard Group, has drafted the papers with the capital markets regulator Securities and Exchange Board of India (Sebi) to raise funds to the tune of 250 crore rupees through an Initial Public Offering. The move is to facilitate the company’s expansion plans.
According to the Draft Red Herring Prospectus (DRHP) filed with Sebi, this IPO is a fresh issue of equity shares totaling 100%, with no Offer-for-Sale (OFS) component to it. This means that all proceeds generated from this public issue are directly channeled into this company, increasing its Balance Sheet base.
Veegaland Developers proposes to use around ₹111.60 crore from the IPO issue proceeds for meeting a part of the construction and development expenses of their ongoing and future residential developments. Further, around ₹18.49 crore has been allocated for the acquisition of identified lands to develop residential real estate. The balance amount will be used for future lands acquisition and general corporate purposes.
Veegaland Developers has been incorporated as a residential real estate development concern and is involved in the planning, development, and subsequent selling of multi-storied apartment complexes within the state of Kerala. It functions within a range of segments, including mid-premium, premium, ultra-premium, luxe series, and ultra-luxury residential segments, thus serving customers who come under the category of premiums and ultra-premiums.
As on October 31st, 2025, it has delivered 10 housing projects, totaling 11.05 lacs square feet saleable area, and nine projects at various stages of implementation with a total saleable area of 12.67 lacs square feet. This reflects its strong execution pipeline.
With the aim of developing Veegaland Developers in the future, the company also possess a large land reserve of approximately 7.20 acres in the prime market of Kochi and Trivandrum located in the state of Kerala. The above-mentioned plots of land are planned to be developed on a residential scale once the necessary legal approvals have been received.
Its focus on the urban residential segment in the state of Kerala is well in line with the growing demand for organized and quality dwelling units, thanks to the effects of urbanization, increasing incomes, and evolving lifestyles. Kochi and Trivandrum have experienced consistent demand for residential properties due to development in infrastructure, the growth of the IT industry, and better connectivity.
Cumulative Capital has been designated as the lone book-running lead manager in the proposed IPO. It is likely to come up with further information on pricing, issue size, and timing after obtaining regulatory approvals.
With this upcoming public issue, Veegaland Developers is expected to improve the capital base, execute projects faster, and enhance its presence in the developing residential property market in Kerala. The initial public offer also marks a very important milestone in the journey of this company as it now wants to use the public capital market for funding the next stage of growth.
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