Veer Global Infraconstruction Limited is joining the SME IPO rally. Veer Global IPO will open for subscription on 30th September 2020. The company is aiming for an issue size of ₹4.92 crores through this SME fixed price IPO.
Veer Global Infraconstruction Limited
Veer Global is a real estate developer, primarily focusing on the development of residential projects in Vasai- Virar and Palghar district. It has over 9 years of experience in developing residential projects in the low-income affordable housing segment. Its projects primarily cater to affordable housing. As of 17 August 2020, the company has completed 5 projects and has 7 ongoing projects.
Objective of the Issue
- To meet the working capital requirements.
- For general corporate purposes.
- To meet issue related expenditures.
Basic details about the company
| Full name | Veer Global Infraconstruction Limited |
| Sector | REALTY |
| Industy | Construction-Real estate |
| Company Website | www.veergloballtd.com |
Dates to remember
| IPO Open | 30 September 2020 |
| IPO Close | 09 October 2020 |
| Basis of Allotment | 14 October 2020 |
| Refunds date | 15 October 2020 |
| Credit to Demat Account | 16 October 2020 |
| Listing Date | 19 October 2020 |
IPO details
| Issue type | Fixed price IPO |
| IPO issue size | ₹4.92 crores |
| Number of shares offered to the public | 1,756,000 shares |
| Face value | ₹10 per equity share |
| Offer price | ₹28 per equity share |
| Retail portion | 50% |
| Lot size | 4000 Nos |
| Minimum application | 1 lot – 4000 shares |
| Minimum application amount | ₹1,12,000 |
| Listing Exchange | BSE (BSE SME platform) |
More details about the company
Incorporated in 2012, Veer Global Infraconstruction Limited is a real-estate developer company that primarily engaged in developing residential projects in the affordable housing segment. It undertakes development of residential projects, business and retail properties, Commercial Plaza, and Integrated Townships. Its core business activities include location identification, acquisition, project planning, designing and development and sales & marketing.
VGIL positioned as “Creation and not Construction” has landmark development across Mumbai, Vasai, Virar, Umroli, Boisar & Shahada. Till Sep 2020, it has completed 5 residential projects and Veer-11, Parasnath Township Bldg No. 2, Veer Splendor – Phase II, Veer-10, Veer-4, and D-wing Veer-2 are currently ongoing projects.
Competitive Strengths
- Experienced team of promoters and managers.
- Focus on low-income affordable housing segment.
- Strategic location advantages in the District of Palghar.
Financial summary
| Veer Global’s financial performance (in INR lakh) | ||||
| FY2018 | FY2019 | FY2020 | ||
| Revenue | 233.3 | 1,007.5 | 862.6 | |
| Expenses | 225.3 | 990.5 | 838.1 | |
| Net income | 3.8 | 12.0 | 16.4 |
Valuation of Veer Global IPO (FY2020)
| Earnings Per Share (EPS) | ₹ 0.46 |
| Price/Earnings (PE ratio) | 60.87 |
| Return on Net Worth (RONW) | 1.58% |
| Net Asset Value (NAV) | ₹ 21.89 per share |
Company Promoters
- Mr. Vijaybhai Vagjibhai Bhanshali
- Mrs. Anita Bhanshali
- Mr. Vinod Mohanlal Jain
- Mr. Mukesh Chunilal Jain
- Mr. Abhishek Mukesh Jain
- Mr. Priyank Chandrakant Parikh
Lead managers
Capital Square Advisors Pvt Ltd
Registrar of Veer Global IPO
Purva Sharegistry India Private Limited
Unit no. 9, Shiv Shakti Industrial Estate,
JR Boricha Marg, Lower Parel (E)
Mumbai – 400 011
Phone: +91 22 2301 2518
Email: support@purvashare.com
Website: www.purvashare.com
Veer Global Contact Details
Veer Global Infraconstruction Limited
Shop No 47 Shalibhadra Regency Shalibhadra Nagar, 100 Feet Road,
Behind Union Bank, Nalasopara (E),
Thane-401 209
Phone: +91 8484817311
Email: mail@veergloballtd.com
Website: www.veergloballtd.com
Veer Global IPO Allotment Status
Veer Global IPO allotment status will be available on Purva Sharegistry’s website.
Click on this link to get allotment status.
Final thoughts
Veer Global IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post gave you enough details to make a fundamental study of the company. learn well and make a wise decision.
happy investing
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