Veeram Infra IPO – Review, Allotment status, Subscription, GMP & DRHP
Last Updated Date: Nov 16, 2022Veeram Infra being real estate business shall include development and sale of land, residential properties including identification and acquisition of land, development of land & infrastructure, acquisition of development rights of projects, marketing of projects/land. Veeram Infra IPO comprises of 21,06,000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Veeram Infra IPO release date, IPO offer price, subscription, Veeram Infra IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Veeram Infra IPO Review & Ratings
| Veeram Infra IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Veeram Infra IPO
Veeram Infra being real estate business shall include development and sale of land, residential properties including identification and acquisition of land, development of land & infrastructure, acquisition of development rights of projects, marketing of projects/land . Over the last 2-3 years, the company promoters have developed a focused and bigger vision in the real estate sector. In order to execute the same, the promoters have decided to diversify its business actitivies in the real estate sector. The Issue comprises of a Public Issue of 21,06,000 Equity shares of face value of Rs.10.00 each fully paid up.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 34.33% and 100%, respectively.
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 1,146.98 Lakhs, Rs.3.95 Lakhs and Rs. 2.94 Lakhs, respectively representing growth of 34.33% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2017, FY 2016-17 and FY 2015-16 our net profit was Rs.81.89 Lakhs, Rs.0.02 Lakhs and Rs. 0.01 Lakhs, respectively, representing a growth of 100% from the FY 2015-16 to FY 2016-17.
- During the financial year 2017-18 the Other Income of our company increased to Rs. 134.52 Lakhs as against Rs. 0 Lakhs for the financial year 2016-17, representing increase by 134.5% due to increase in interest income & insurance claim in FY 2017- 18.
- Company’s Net Profit after tax for the year 2017-18 is increased to Rs. 67.07 Lakhs from Rs. 0.02 Lakhs from the year 2016-17, showing remarkable performance.
The Promoter of this company is Mr. Satishkumar R. Gajjar and Mrs. Geetaben S. Gajjar. The lead manager to the issue is First Overseas Capital Limited and the Registrar to this issue is Karvy Computer Share Private Limited .
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Veeram Infra IPO Date
The opening and the closing date of IPO of Veeram Infra is 28 Sept 2018 – 8 Oct 2018.
Veeram Infra IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 :28 Sept 2018 | ||||
| Day 2 : 1 Oct 2018 | ||||
| Day 3 : 3 Oct 2018 | ||||
| Day 4 : 4 Oct 2018 | ||||
| Shares Offered or Net Issue |
Veeram Infra IPO Allotment Status
Here, you can check the Allotment Status of Veeram Infra IPO.
Veeram Infra IPO Price Band
The price band of each share is Rs 51 (cash price).
Veeram Infra IPO Equity Share Offering
21,06,000 Equity Shares of Rs 10/- each, the Issue Price is Rs 51 aggregating to Rs. 1,074.06 Lakhs.
Veeram Infra – Company Overview
Veeram Infra is being real estate business shall include development and sale of land, residential properties including identification and acquisition of land, development of land & infrastructure, acquisition of development rights of projects, marketing of projects/land . Over the last 2-3 years, the company promoters have a developed a focused and bigger vision in the real estate sector. In order to execute the same, the promoters have decided to diversify its business actitivies in the real estate sector.
The Company is in the process of building a quality and innovation focused trading vertical as well as developing a strong team to cater to its proposed increased operational needs in the printing and trading business.
The Company is promoted by Mr. Satishkumar R. Gajjar and Mrs. Geetaben S. Gajjar and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Veeram Infra :
- Experience of the Promoter
- Development of projects through Joint Development model
Business strategies of Veeram Infra :
- Development of projects through Joint Development model
- Focus on Performance and Project Execution
Veeram Infra – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 935.06 | 25.99 | 25.57 | 24.66 | 24.16 |
| Total Revenue | 1,281.50 | 3.95 | 2.94 | 3.88 | 3.55 |
| Total Expense | 1,199.61 | 3.93 | 3.87 | 3.87 | 3.53 |
| Profit After Tax | 67.07 | 0.02 | 0.01 | 0.01 | 0.02 |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 2.88 | 0 | 0 |
From the above statements, one could find that the Veeram Infra may perform well.
Veeram Infra IPO – Promoters
The Promoter of this company are:
- Mr. Satishkumar R. Gajjar
- Mrs. Geetaben S. Gajjar
List of Related Parties (Key Managerial Personnel)
- Mr. Dhaval S. Gajjar
- Mr. Satishkumar R. Gajjar
- Mrs. Geetaben S. Gajjar
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Veeram Infra IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 21,06,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share aggregating Rs. 10,74,06,000/- |
| Of which: | |
| Reserved for Market Makers | 1,10,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share aggregating Rs. 56,10,000/-. |
| Net Issue to the Public | 19,96,000Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share aggregating Rs. 10,17,96,000/- |
| Of which: | |
| Retail Investors Portion | 9,98,000Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share aggregating Rs. 5,08,98,000/-. |
| Non-Retail Investors Portion | 9,98,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share aggregating Rs. 5,08,98000/-. |
| Equity Shares outstanding prior to the Issue | 58,50,852 Equity Shares |
| Equity Shares outstanding after the Issue | 79,56,852 Equity Shares |
Veeram Infra IPO Issue Object
These are the IPO Issue Objects of the company
- To meet working capital requirement;
- To meet the expenses of the Issue
List of Upcoming IPOs in 2018
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| R R Industrial IPO | Sorich Foils IPO | 20 Microns IPO |
Veeram Infra IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experience of the Promoter
- Development of projects through Joint Development model
- Develop and maintain strong relationships with strategic partners
- Focus on Performance and Project Execution
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 2.88 | 10.28 | 28 |
| 31-Mar-17 | 0 | 0.23 | 15.08 |
| 31-Mar-18 | 0 | 0.12 | 51 |
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Veeram Infra IPO Lead Managers
| Lead Managers |
| FIRST OVERSEAS CAPITAL LIMITED 1-2 Bhupen Chambers, Ground Floor, Dalal Street, Mumbai-400 001 Tel. No.: +91 22 22702067/68 Fax No.: N.A. Email: rushabh@focl.in/ satish@focl.in / mala@focl.in Investor Grievance Email: investorcomplaints@focl.in Website: www.focl.in Contact Person: Mr. Rushabh Shroff/ Mr. Satish Sheth/ Ms. Mala Soneji SEBI Registration No.: INM000003671 |
Veeram Infra IPO Registrar to offer
| Registrar to the Offer |
| KARVY COMPUTERSHARE PRIVATE LIMITED Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad 500 032 India Tel. No.: 1-800-3454001/ +91 40 6716 2222 Fax No.: +91 40 2343 1551 E-mail: einward.ris@karvy.com Investor Grievance Email: veeraminfra.ipo@karvy.com Website: www.karisma.karvy.com Contact Person: Mr. M Murali Krishna SEBI Registration No.: INR000000221 |
Other Details:
- Statutory Auditor – M/s. Bhagat & Co., Chartered Accountants
- Peer Review Auditor – M/s. Bhagat & Co., Chartered Accountants
- Bankers to the Issue – HDFC Bank Limited
Veeram Infra IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
Veeram Infra IPO Grey Market Premium
The Veeram Infra IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Veeram Infra IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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