Real estate developer Veegaland Developers, part of the V-Guard group, has filed draft papers with markets regulator Sebi to raise Rs 250 crore through
its initial public offering (IPO) to support its expansion plans. The company's maiden public offering is a completely fresh issue of shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Tuesday. The company plans to use the funds to finance a portion of the cost of developing its ongoing and upcoming projects, estimated at up to Rs 111.60 crore. It will also spend about Rs 18.49 crore to acquire identified land parcels for residential real estate projects, PTI reported. The remaining amount will be used for future land acquisitions and general corporate purposes. Veegaland Developers is a real estate development company engaged in the planning, development, and sale of multi-storied residential apartment projects in Kerala, catering to the mid-premium, premium, ultra-premium, luxe-series, and ultra-luxury residential segments, according to PTI. As of October 31, 2025, the company has completed 10 residential projects aggregating to 11.05 lakh square feet of saleable area, and has nine ongoing projects aggregating 12,67 lakh square feet of saleable area. The company also maintains land reserves aggregating 7.20 acres across Kochi and Trivandrum, Kerala, which are intended to support future residential development, subject to receipt of applicable statutory approvals, feasibility assessments and market conditions. Cumulative Capital is the sole book-running lead manager for the issue.
Stock Market
Indian equities traded higher on Wednesday, December 31, 2025.with the Sensex and Nifty snapping a four-session losing streak on the final trading day of the year. Sensex ended the session 546 pts higher while Nifty closed above 26,100. Falling for the fifth consecutive day on Tuesday, the Sensex dipped 20.46 points or 0.02 per cent to settle at 84,675.08. The Nifty skidded 3.25 points or 0.01 per cent to 25,938.85.On Tuesday, the market was influenced by monthly F&O expiry, particularly in mid- and small-cap stocks. Asian markets were mixed, indicating selective risk appetite. Year-end holiday positioning kept volumes muted, while continued FII selling and global macro concerns limited gains. However, strong domestic fundamentals and steady local inflows provided some support. (With PTI Inputs)
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
