The IPO of Virtual Galaxy Infotech is scheduled to open on May 9, 2025, and will close on May 14, 2025. This is a book-built issue worth ₹93.29 crores, entirely through a fresh issue of 65.70 lakh equity shares. The allotment is expected to be finalized on May 15, 2025, and the shares are likely to be listed on the NSE SME platform on May 19, 2025.
The price band for the IPO is set between ₹135 to ₹142 per share. For retail investors, the minimum application size is 1 lot (1000 shares), which requires an investment of ₹1,35,000. However, considering possible oversubscription, it is advised to apply at the cutoff price, which comes to ₹1,42,000. For HNI investors, the minimum application is 2 lots (2000 shares), costing ₹2,84,000. The quota division for the IPO is 50% for QIBs, 35% for retail investors, and 15% for HNIs.
Financially, the company has shown strong performance. Its revenue increased to ₹63.58 crores in FY 2024 from ₹59.76 crores in FY 2023. Net profit also saw a big jump from ₹0.72 crores in 2023 to ₹16.54 crores in 2024. Looking at this strong growth, the IPO seems promising for long-term investors.
Virtual Galaxy Infotech Limited, founded in September 1997, is a fast-growing IT services and consulting company based in Nagpur, Maharashtra. The company mainly focuses on SaaS-based software products and provides a wide range of services like banking software, ERP implementation, IT solutions, and customized software development. Their core clients come from the BFSI, ERP, and E-Governance sectors.
The company not only develops and installs software but also offers post-implementation support and maintenance to ensure smooth performance. Their services include software consultation, architecture planning, solution design, development, monitoring, and managed services.
So far, Virtual Galaxy Infotech has successfully delivered advanced tech solutions to over 5,000 bank branches and businesses. They currently have a team of over 300 skilled professionals dedicated to offering quality tech services.
Their flagship banking product, “e-banker”, is a powerful Core Banking Solution built to meet modern banking needs. VGIL works with commercial banks, cooperative banks, NBFCs, SACCOs, and also clients from sectors like sugar, textiles, seeds, fertilisers, education, and more. The company operates in over 15 Indian states and has expanded to international markets like Tanzania and Malawi.
They are certified with multiple ISO standards including ISO 9001:2015 and ISO/IEC 27001:2013, showing their commitment to quality and security.
Overview of Contents
Virtual Galaxy Infotech IPO Overview
| Particulars | Information |
|---|---|
| IPO Name | Virtual Galaxy Infotech Limited IPO |
| IPO Type | Book Built Issue |
| Exchange Listing | NSE SME |
| Face Value per Share | ₹10 |
| Price Band | ₹135 to ₹142 per share |
| Lot Size | 1,000 shares |
| Minimum Retail Investment | ₹1,35,000 to ₹1,42,000 (1 lot) |
| Minimum HNI Investment | ₹2,70,000 to ₹2,84,000 (2 lots) |
| Total Issue Size | 65,70,000 shares (Approx ₹93.29 Cr) |
| Fresh Issue Size | 65,70,000 shares (Approx ₹93.29 Cr) |
| Pre-Issue Shareholding | 1,82,98,635 shares |
| Post-Issue Shareholding | 2,48,68,635 shares |
| Market Maker Portion | 3,36,000 shares |
| QIB Quota | Up to 50% of the net issue |
| Retail Quota | At least 35% of the net issue |
| NII (HNI) Quota | At least 15% of the net issue |
Virtual Galaxy Infotech IPO ProspectUs
| DRHP | Click here |
|---|---|
| RHP | Click here |
Objects of the Issue
- Capital expenditure towards setting up additional development facility in Nagpur, Maharashtra
- Repayment/ prepayment of certain borrowings availed by the Company
- Investment in procuring GPU, server & storage system at Data Centre;
- Funding of expenditure related to enhancement, maintenance and upgrading existing products
- Funding for business development and marketing activities and
- General corporate purposes
Virtual Galaxy Infotech IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | 9th May 2025 |
| IPO Close Date | 14th May 2025 |
| Basis of Allotment | 15th May 2025 |
| Initiation of Refunds | 16th May 2025 |
| Shares Credited to Demat | 16th May 2025 |
| IPO Listing Date | 19th May 2025 |
Virtual Galaxy Infotech IPO Lot Size
| Category | Lots | Total Shares | Investment Amount |
|---|---|---|---|
| Retail - Minimum | 1 Lot | 1,000 Shares | ₹1,42,000 |
| Retail - Maximum | 1 Lot | 1,000 Shares | ₹1,42,000 |
| S-HNI - Minimum | 2 Lots | 2,000 Shares | ₹2,84,000 |
Peer Group Comparison
| Company Name | Earnings Per Share (EPS) | P/E Ratio | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Revenue (Income) |
|---|---|---|---|---|---|
| Veefin Solutions Ltd. | ₹2.74 | 198.07 | 6.95% | ₹52.70 | Not Disclosed |
| Network People Services Technologies Ltd. | ₹13.78 | 201.57 | 62.04% | ₹29.67 | Not Disclosed |
| Trust Fintech Ltd. | ₹7.13 | 25.53 | 52.70% | ₹25.71 | Not Disclosed |
Virtual Galaxy Infotech IPO Financial Performance
| Particulars | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | ₹116.93 Cr | ₹84.36 Cr | ₹67.80 Cr |
| Revenue | ₹63.58 Cr | ₹59.76 Cr | ₹43.44 Cr |
| Profit After Tax | ₹16.54 Cr | ₹0.72 Cr | ₹0.40 Cr |
| Net Worth | ₹41.40 Cr | ₹20.40 Cr | ₹20.14 Cr |
| Reserves & Surplus | ₹30.40 Cr | ₹9.40 Cr | ₹9.14 Cr |
| Total Borrowing | ₹38.64 Cr | ₹38.85 Cr | ₹35.56 Cr |
Virtual Galaxy Infotech IPO – Valuation Snapshot (FY2024)
| Valuation Metrics | FY2024 Values |
|---|---|
| Return on Equity (ROE) | 53.52% |
| Return on Capital Employed (ROCE) | 31.68% |
| EBITDA Margin | 49.38% |
| Profit After Tax (PAT) Margin | 26.04% |
| Debt-to-Equity Ratio | 0.93 |
| Earnings Per Share (EPS) | ₹10.02 (Basic) |
| Price-to-Earnings (P/E) Ratio | Not Available |
| Return on Net Worth (RoNW) | 39.95% |
| Net Asset Value (NAV) | ₹25.09 |
Virtual Galaxy Infotech IPO Review
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Virtual Galaxy Infotech IPO Promoter Holding
The company is promoted by Avinash Narayanrao Shende and Sachin Purushottam Pande, who have been key in shaping the company’s growth and direction. Before the IPO, they hold a major part of the company’s shares. After the IPO, their shareholding will reduce, but they will continue to play an important role in the business.
| Particulars | Shareholding (%) |
|---|---|
| Pre-Issue | 87.95% |
| Post-Issue | [To be updated]* |
Virtual Galaxy Infotech IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/allotment-status/public-issues
IPO Lead Managers aka Merchant Bankers
- Smart Horizon Capital Advisors Private Limited
Company Address
Virtual Galaxy Infotech Limited
3, Central Excise Colony
Behind Mahatme Eye Bank, Chhatrapati Sq.,
Ring Road
Phone: +91 9226531342
Email: [email protected]
Website: http://www.vgipl.com/
Virtual Galaxy Infotech IPO FAQs
What is Virtual Galaxy Infotech IPO?
Virtual Galaxy Infotech IPO is an SME IPO aiming to raise ₹93.29 Crores. The price band for the IPO is ₹135 to ₹142 per equity share, and it will be listed on the NSE SME platform.
When will Virtual Galaxy Infotech IPO open and close?
The IPO will open for subscription on May 9, 2025, and will close on May 14, 2025.
What is the lot size and minimum investment for Virtual Galaxy Infotech IPO?
The lot size is 1000 shares, which means the minimum investment required is ₹1,42,000 at the upper price band.
How can investors apply for the Virtual Galaxy Infotech IPO?
Investors can apply via ASBA (Applications Supported by Blocked Amount) through their bank account or UPI using stock broker platforms. Offline application via stock brokers is also allowed.
When is the allotment and listing date for Virtual Galaxy Infotech IPO?
The allotment date is May 15, 2025, and the listing date is May 19, 2025 on the NSE.