Veegaland Developers has submitted draft papers to the Securities and Exchange Board of India (SEBI) to raise ₹250 crore through an Initial Public Offering (IPO).
The Kerala-based real estate developer is part of the V-Guard group. The draft red herring prospectus was filed on Tuesday, marking the company’s first attempt to tap the capital markets.
The proposed IPO will consist entirely of a fresh issue of equity shares. There is no offer-for-sale component in the issue, meaning existing shareholders will not divest any stake as part of the listing. The number of shares and price band are yet to be disclosed and will be finalised after regulatory review.
Cumulative Capital has been appointed as the sole book-running lead manager for the IPO.
According to the draft papers, up to ₹111.60 crore from the issue proceeds will be used to meet part of the cost of developing ongoing and upcoming residential projects.
The company also plans to allocate around ₹18.49 crore towards the purchase of identified land parcels for residential developments.
The remaining funds will be used for future land acquisitions and general corporate purposes.
Veegaland Developers is engaged in the planning, development and sale of multi-storeyed residential apartment projects in Kerala. Its projects cater to a range of housing segments, including mid-premium, premium, ultra-premium, luxe-series and ultra-luxury categories. The company’s operations are currently focused within the state.
As of October 31, 2025, the company had completed 10 residential projects with a total saleable area of about 11.05 lakh square feet. In addition, it had 9 projects under development, aggregating nearly 12.67 lakh square feet of saleable area. These projects form the core of the company’s current execution pipeline.
The company has land reserves measuring around 7.20 acres across Kochi and Thiruvananthapuram. These parcels are intended for future residential projects, subject to statutory approvals, feasibility checks and prevailing market conditions. The land bank is expected to support upcoming developments.
Read More: Oyo Parent Prism Filed DRHP with SEBI via Confidential Route for ₹6,650 Crore IPO!
The draft filing sets out the company’s plans to raise funds for project development and land acquisition, subject to SEBI’s approval and market conditions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 1, 2026, 11:47 AM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
