Veegaland Developers IPO subscription status Day 3: Issue booked 3.5x so far; Check GMP

According to fresh market updates, Veegaland Developers IPO was subscribed 3.65 times on the third and final day of bidding on September 15, led by Non-Institutional market participants and Retail Individual Market participants.

The Rs 210-crore offering received bids for 3.65 times the shares on offer, so far.

The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 46 percent, while the Non-Institutional Market participants (NIIs) portion was subscribed 5.19 times. The Retail Individual Market participants (RIIs) portion was subscribed 4.81 times.

Earlier, the real estate developer boosted Rs 63 crore from anchor market participants.

Veegaland Developers IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of Veegaland Developers are commanding a GMP of up to 11 percent. Investorgain quoted a GMP of Rs 12 for the shares of the firm, indicating a stock-exchange debut gain of 8.57 percent. In the meantime, IPO Watch, quoted a GMP of 10.71 percent.

The offering had a price range of Rs 130-140 per equity share.

Proceeds from the offering will be used to partly fund the firm's ongoing projects, fund unidentified land acquisition and for general corporate purposes.