Virtual Galaxy Infotech Limited, one of the leading Hybrid SaaS and Enterprise Software companies serving the BFSI sector, announced that its initial public offering (IPO) will open for subscription on Friday, May 06, 2025. The anchor portion will be opened on Thursday, May 08, 2025, and the issue will conclude on Wednesday, May 14, 2025. The company intends to raise ₹93.29 crore from the offering and aims to be listed on the NSE Emerge platform.
The price band for the issue has been fixed at ₹135-142per share, and the lot size will be
1,000 equity shares. The company has raised ₹21.44 crore in a pre-IPO funding round in
July 2024, from the marquee investors. Smart Horizon Capital Advisors Private Limited is the Book Running Lead Manager, and Maashitla Securities Private Limited is the Registrar to
the offer.
The IPO will comprise a fresh issue of65.7Lakh Equity Shares with a face value of ₹10/-
through the book-building route. As many as 18,40,000 equity shares have been reserved
for the Anchor investors, 3,36,000 equity shares for the market maker, 9,50,000 equity
shares allocated for the NII portion, 12,44,000 equity shares for QIBs, and the Retail (RII)
portion accounts for 22,00,000 equity shares.
According to RHP, VGIL intends to utilise ₹34.27 crore of the total IPO proceeds towards
capital expenditure for setting up additional development facility in Nagpur, ₹3.00 crore for
repayment/prepayment of certain borrowings availed by the company, ₹5.05 crore for procuring GPU, server & storage system at data centre, ₹18.90 crore for funding
expenditure related to enhancement, maintenance and upgrading existing products and
₹14.06 crore for funding business development and marketing activities. The remaining
capital will be used for general corporate purposes.