Kerala-based Veegaland Developers to open ₹210 cr IPO on September 10

Kerala-based real estate company Veegaland Developers will open its initial public offering (IPO) on September 10, with the issue closing on September 15.

The IPO comprises a fresh issue of shares, with the price band fixed at ₹130-140 per share. The offering is expected to value the company at ₹682 crore.

Founded by businessman Kochouseph Chittilappilly, Veegaland Developers aims to raise ₹210 crore through the IPO. The company will also become the first real estate firm from Kerala to list on a stock exchange.

The IPO will be the third public offering from a company founded by Chittilappilly. His other ventures, V-Guard Industries and Wonderla, are already listed on the stock exchanges.

The company is expected to finalise the allotment of IPO shares on September 16. Trading in Veegaland Developers' equity shares is likely to begin on the stock exchanges on September 18.