Veer Global Infraconstruction Limited, established in 2012, is a real estate development company that specializes in creating affordable residential projects. The company’s operations involve developing residential properties, commercial plazas, and integrated townships. The company handles everything from locating suitable areas for development to acquisition, project planning, designing, and sales and marketing.
It is known for its landmark developments across Mumbai, Vasai, Virar, Umroli, Boisar, and Shahada. The company has already completed five residential projects and is currently working on six others, including Veer-11, Parasnath Township Bldg No. 2, Veer Splendor – Phase II, Veer-10, Veer-4, and D-wing Veer-2. The company’s mission is to focus on creating developments rather than just constructions, positioning themselves as a leader in the affordable housing segment.
Veer Global Infraconstruction IPO Details
| IPO Date | Sep 30, 2020 to Oct 9, 2020 |
| Listing Date | Oct 19, 2020 |
| Face Value | ₹10 per share |
| Price | ₹28 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 1,756,000 shares (aggregating up to ₹4.92 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
Veer Global Infraconstruction IPO Tentative Dates
Veer Global Infraconstruction IPO opens on Sep 30, 2020, and closes on Oct 9, 2020.
| Event | Tentative Date |
| Opening Date | Sep 30, 2020 |
| Closing Date | Oct 9, 2020 |
| Basis of Allotment | Oct 14, 2020 |
| Initiation of Refunds | Oct 15, 2020 |
| Credit of Shares to Demat | Oct 16, 2020 |
| Listing Date | Oct 19, 2020 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Industry Overview
The affordable housing segment has been a key growth driver in the Indian real estate industry, with the government’s push for “Housing for All by 2022” driving demand in this segment. The affordable housing segment is defined as residential units with a carpet area of up to 60 square meters and is targeted at low and middle-income households.
According to a report by Knight Frank India, the affordable housing segment is expected to grow at a CAGR of 6% between 2021-2025. The report highlights that the growth will be driven by government initiatives, including tax incentives and subsidies, which make it easier for developers to build affordable housing projects.
Company Financials
Summary of financial Information (Restated Consolidated)
| Particulars | For the year/period ended (Rs in Lacs) | ||
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 3,290.11 | 2,929.13 | 2,021.76 |
| Total Revenue | 862.58 | 1,007.52 | 233.30 |
| Profit After Tax | 17.60 | 12.87 | 4.74 |
Objects of the Issue
The net proceed from the IPO will be used towards following purposes;
- To meet the working capital requirements.
- To meet general corporate purposes.
- To meet issue related expenditures.
Veer Global Infraconstruction IPO Prospectus
Company Contact Information
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: http://www.veergloballtd.com/
Veer Global Infraconstruction IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com
Veer Global Infraconstruction IPO Lead Manager(s)
- CapitalSquare Advisors Pvt. Ltd. (Past IPO Performance)
