IPO Details

Bidding Dates

09 May '25 - 14 May '25

Minimum Investment

₹1,42,000 / 1 Lot (1000 Shares)

Price Range

₹135 - ₹142

Maximum Investment

₹1,42,000 / 1 Lot (1000 Shares)

Retail Discount

To be announced

Issue Size

₹93.29 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Virtual Galaxy Infotech IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 09, 25

IPO Closing Date

May 14, 25

Basis of Allotment

May 15, 25

Initiation of Refunds

May 16, 25

IPO Listing Date

May 19, 25

About Virtual Galaxy Infotech IPO

Virtual Galaxy Infotech IPO is a book-built issue worth ₹93.29 crore. The IPO is entirely a fresh issue of 65.70 lakh shares aggregating to ₹93.29 crore. The IPO opens for subscription on May 9, 2025, and will close today on May 14, 2025. Allotment is expected to be finalised on May 15, 2025, with tentative listing on the NSE SME platform scheduled for May 19, 2025.

The IPO price band is fixed at ₹135 - ₹142 per share. Retail investors must apply for a minimum of 1 lot comprising 1000 shares, requiring an investment of ₹1,42,000 at the cutoff price. HNI investors are required to apply for at least 2 lots (2000 shares), amounting to ₹2,84,000.

Smart Horizon Capital Advisors Private Limited is the book-running lead manager for this issue, while Maashitla Securities Private Limited is the registrar. The market maker is Alacrity Securities Ltd.

For detailed financials, company background, and risk factors, investors are advised to refer to the Virtual Galaxy Infotech IPO RHP.

Industry Outlook

  1. The Indian IT and BPM sector contributed 7.5% to GDP in FY23 and is expected to reach 10% by 2025, driven by strong global demand for digital services.
  2. Key sectors driving this growth include IT/ITES, Telecom, BFSI, FMCG/Retail, Automobile, Manufacturing, and Healthcare, with IT/ITES leading due to high demand for skilled tech professionals.
  3. Corporate training is evolving through digital solutions like Learning Management Systems (LMS) and Learning Experience Platforms (LXP), while cloud computing, AI, ML, and cybersecurity are boosting innovation.
  4. The Indian IT and BPM market is projected to grow at a CAGR of 16.3% between 2023 and 2027, supported by ongoing digital transformation and rising need for tech talent. 

Virtual Galaxy Infotech IPO Objectives 

The company proposes to utilise the net proceeds from the IPO for the following objectives:

  1. Funds will be used to set up a new development facility in Nagpur, Maharashtra, expanding infrastructure to support growth and operations.
  2. A portion will go towards repaying or prepaying certain borrowings, reducing debt and improving financial stability.
  3. Investment will be made in GPU, server, and storage systems at the Data Centre to strengthen technological infrastructure.
  4. Proceeds will support enhancement and upgrading of existing products through manpower hiring, driving continuous innovation.
  5. Some funds will be allocated to business development and marketing to boost market presence and attract new customers.
  6. The remaining funds will be used for general corporate purposes, including operations, strategy, and contingencies.

About Virtual Galaxy Infotech Limited 

Virtual Galaxy Infotech Limited was incorporated on September 12, 1997, as a private company and converted to a public limited company on September 12, 2024. It provides Core Banking Software, IT Solutions, ERP Implementation, and Custom Software Development, primarily serving BFSI, ERP, and E-Governance sectors.

The company delivers customised software for banking, financial services, insurance, manufacturing, and government clients. Its key offerings include E-Banker, IBS-ERP, e-APMC, V-Pay, V-SOC, E-Autopsy, VGST, and LOS—designed to improve operational efficiency and meet sector-specific needs.

Headquartered in Nagpur, Maharashtra, with branches across India, the IPO proceeds will fund a new development centre, repay debt, invest in data centre infrastructure, upgrade products, and support marketing and business development.

The company’s focus on innovation and client satisfaction has made it a reliable tech partner. Its adaptive approach and commitment to quality position it strongly in the evolving IT and software development space.

How To Check the Allotment Status of the Virtual Galaxy Infotech IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Virtual Galaxy Infotech IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Virtual Galaxy Infotech IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Virtual Galaxy Infotech IPO 

Registered office:3, Central Excise Colony, Behind Mahatme Eye Bank, Chhatrapati Square, Ring Road, Nagpur, Maharashtra, 440015, India.

Phone: +91 9226531342

E-mail: investors@vgipl.in

Virtual Galaxy Infotech IPO Reservation

Virtual Galaxy Infotech IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

1000

₹1,42,000

Retail (Max)

1

1000

₹1,42,000

HNI (Min)

2

2000

₹2,84,000

Virtual Galaxy Infotech IPO Promoter Holding

The promoters of the Company are Avinash Narayanrao Shende and Sachin Purushottam Pande.

Share Holding Pre-Issue

87.95%

Share Holding Post Issue

-

Key Performance Indicators for Virtual Galaxy Infotech IPO

As of March 31, 2024, the market capitalisation of Virtual Galaxy Infotech is ₹353.13 crore. Here are the KPIs of Virtual Galaxy Infotech:

KPI

Value

EBITDA Margin (%)

49.38

PAT Margin (%)

26.04

Return on Equity (%)

53.52

Return on Capital Employed (%)

31.68

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

9.04

6.65

P/E (x)

15.71

21.35

Note: The Pre IPO EPS is calculated based on pre-issue shareholding as of the date of RHP and the latest FY earnings as of March 31, 2024, that is available in RHP.

The post-issue EPS is calculated based on the post-issue shareholding and annualised FY earnings of March 31, 2024, that are available in RHP.

Virtual Galaxy Infotech IPO Prospectus

Virtual Galaxy Infotech IPO Registrar and Lead Managers

Virtual Galaxy Infotech IPO Lead Managers

  • Smart Horizon Capital Advisors Private Limited

Registrar for Virtual Galaxy Infotech IPO

Maashitla Securities Private Limited

Virtual Galaxy Infotech IPO Registrar

Financial Performance of Virtual Galaxy Infotech Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Total Expense
EBITDA Margin (%) 49.38 50.38 19.99
PAT Margin (%) 26.04 26.52 1.20
Return on Equity (%) 53.52 49.72 3.54
Return on Capital Employed 31.68 30.53 9.95
Debt-Equity Ratio (times) 1 0.94 1.9
Current Ratio (times) 1 0.99 1.13

Know before investing

Strengths

8

  1. Virtual Galaxy Infotech offers a broad range of solutions, including Core Banking Software, ERP Implementation, and Custom Software. Key products like E-Banker, IBS-ERP, and V-Pay serve diverse sectors and enhance market presence.

  2. Its diversified client base across BFSI, manufacturing, and government sectors ensures revenue stability and reduces reliance on any single industry.

  3. Backed by experienced promoters and a capable management team, the company benefits from strong leadership and operational focus.

  4. A commitment to innovation keeps its products competitive amid rapid tech evolution, while international presence in markets like Tanzania and Malawi supports global expansion.

  5. Presence in international markets like Tanzania and Malawi opens doors for expansion in other emerging economies.

  6. Rising digital adoption and demand for LMS and LXP solutions present strong growth opportunities.

  7. Government initiatives promoting digital transformation support the company’s expansion efforts.

  8. IPO proceeds will fund new development facilities, product enhancement, and business expansion, strengthening market presence.

Risks

8

  1. A large share of revenue depends on E-Banker. Losing a major client using this product could materially impact operations and profitability.

  2. Revenue is heavily concentrated in the BFSI sector and Maharashtra region. Any adverse developments in these areas may hurt financial performance.

  3. The company depends on winning competitive bids for new projects. Failure to secure projects could affect growth and financial stability.

  4. Operations rely on IT systems. Disruptions, cyber threats, or data breaches could impair service delivery and damage the company’s reputation.

  5. Dependence on independent contractors and third-party providers poses operational risks if they fail to meet obligations.

  6. Weak intellectual property protection could impact the company’s competitive edge and expose it to infringement risks.

  7. The ability to attract and retain skilled IT professionals is critical. High attrition or hiring challenges may hinder business growth.

  8. Expansion into new markets involves regulatory, cultural, and operational risks. Inadequate risk management could affect overall performance.

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Virtual Galaxy Infotech Limited Peer Details Comparison

Company Name Revenue from Operations (₹ in lakh) PAT (₹ in lakh) Debt-Equity Ratio (times) Net Fixed Asset Turnover Ratio
Virtual Galaxy Infotech Ltd 6,146.39 1,630.19 0.94 2.03
Veefin Solutions Ltd 2,075.99 563.85 0.05 0.22
Network People Services Tech Ltd 12,751.16 2,670.64 0 18.38
Trust Fintech Ltd 3,504.38 1,250.17 0 3.45

Virtual Galaxy Infotech IPO FAQs

What is the Virtual Galaxy Infotech IPO?

Virtual Galaxy Infotech IPO is a book-built issue IPO. It will be open from May 9, 2025, to May 14, 2025. 

When will the Virtual Galaxy Infotech IPO be allotted?

The Basis of Allotment will happen on Thursday, May 15, 2025.  

When will the Virtual Galaxy Infotech IPO open for subscription?

The IPO subscription window will open on May 9, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1000 shares. 

When will Virtual Galaxy Infotech Limited list on exchanges?

The listing date for Virtual Galaxy Infotech Limited is Monday, May 19, 2025. 

What is the issue size of the Virtual Galaxy Infotech IPO?

The issue size of the Virtual Galaxy Infotech IPO is up to ₹93.29 crores, consisting of a fresh issue of 65.70 lakh shares. 

What are the open and close dates of the Virtual Galaxy Infotech IPO?

The open and close dates for Virtual Galaxy Infotech IPO are from May 9, 2025, to May 14, 2025. 

What would be the listing gains on the Virtual Galaxy Infotech IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.  

How to increase your chances of getting a Virtual Galaxy Infotech IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the Virtual Galaxy Infotech IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of Virtual Galaxy Infotech Limited using one PAN?

You can submit only one application using your PAN card. 

How to read Virtual Galaxy Infotech Limited's financial statements?

To read Virtual Galaxy Infotech ‘s financial statements, download the IPO’s  RHP document. 

What is 'pre-apply' for Virtual Galaxy Infotech Limited IPO?

Pre-apply allows investors to apply for the  Virtual Galaxy Infotech  IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the Virtual Galaxy Infotech Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours. 

When will I know if my Virtual Galaxy Infotech Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.  

Who is the registrar of Virtual Galaxy Infotech IPO?

Maashitla Securities Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the Virtual Galaxy Infotech IPO getting listed?

Virtual Galaxy Infotech Limited IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).