IPO
Veegaland Developers’ Rs.210-Cr IPO subscribed 13.5 times
The INR 210-Cr initial public offering (IPO) of Ernakulam, Kerala-based Veegaland Developers , was subscribed 13.55 times.The IPO received bids for over 15.32 crore shares against 1.13 crore shares on offer. Non-institutional investors, qualified institutional buyers, and retail investors subscribed 18.03, 17.76, and 9.24 times their allotted quotas, respectively. The IPO was entirely a fresh issue with no offer for sale (OFS) component. Earlier, Veegaland had raised INR 63 crore from anchor investors.Proceeds from the IPO will be used to fund ongoing projects and land acquisition.
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