The Veegaland Developers IPO will open for subscription on Thursday, 10 September, and will close on Tuesday, 15 September. The Veegaland Developers IPO price band has been set at ₹130- ₹140 per equity share, with a face value of ₹10 per share. The Veegaland Developers IPO lot size is 107 equity shares, and bids can be placed in multiples of 107 shares thereafter. Veegaland Developers IPO subscription for the public issue will open at 10:00 IST on Thursday during the deals.
Veegaland Developers IPO GMP today, or grey market premium, is +24. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Veegaland Developers share price was indicated at ₹164 apiece, which is 17.14% higher than the IPO price of ₹140.
According to grey market trends observed over the past 10 sessions, the current GMP of ₹24 suggests a pessimistic outlook. Throughout this timeframe, the GMP fluctuated between ₹18 and ₹33, according to expert analysis.
Under Veegaland Developers IPO reservation structure, up to 50% of the issue is reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
The Veegaland Developers IPO allotment basis is expected to be finalised on Wednesday, 16 September. The company is likely to begin processing refunds on Thursday, 17 September, while shares are expected to be credited to the demat accounts of successful allottees on the same day.