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 May 9. The anchor portion will be opened on May 08 and the issue will conclude on May 14. The company intends to raise Rs 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 Rs135-142 per share, and the lot size will be 1,000 equity shares.

 

The company has raised Rs 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 of 65.7 lakh Equity Shares with a face value of Rs 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 Rs 34.27 crore of the total IPO proceeds towards capital expenditure for setting up additional development facility in Nagpur, Rs 3 crore for repayment/prepayment of certain borrowings availed by the company and Rs 5.05 crore for procuring GPU.