Veegaland Developers Files ₹250-Crore IPO with Sebi
NEW DELHI: Veegaland Developers, a real estate firm under the V-Guard group, has submitted draft papers to market regulator Sebi to raise ₹250 crore through an initial public offering (IPO) aimed at fueling its expansion efforts. This IPO is a completely new issue of shares, with no Offer-for-Sale (OFS) element, as detailed in the draft red herring prospectus (DRHP) submitted on Tuesday. Funds from the IPO will be allocated to cover part of the ongoing and upcoming project costs, estimated at ₹111.60 crore, alongside ₹18.49 crore earmarked for purchasing specific land parcels for residential projects. The remainder will be utilized…