Virtual Galaxy Infotech Limited SME IPO
By Rajan Chaurasiya May, 10 2025 02:48 AM
Virtual Galaxy Infotech IPO is a bookbuilding of ₹93.29 crores. The issue is entirely a fresh issue of 65.70 lakh shares.
Virtual Galaxy Infotech IPO bidding opened for subscription on May 9, 2025 and will close on May 14, 2025. The allotment for the Virtual Galaxy Infotech IPO is expected to be finalized on Thursday, May 15, 2025. Virtual Galaxy Infotech IPO will be list on NSE SME with a tentative listing date fixed as Monday, May 19, 2025.
Virtual Galaxy Infotech IPO price band is set at ₹135 to ₹142 per share. The minimum lot size for an application is 1000. The minimum amount of investment required by retail investors is ₹1,35,000. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹1,42,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹2,84,000.
Refer to newipo.info Virtual Galaxy Infotech IPO RHP for detailed information.
Virtual Galaxy Infotech IPO Details
| IPO Date | May 9, 2025 to May 14, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹135 to ₹142 per share |
| Lot Size | 1,000 Shares |
| Total Issue Size | 65,70,000 shares (aggregating up to ₹93.29 Cr) |
| Fresh Issue | 65,70,000 shares (aggregating up to ₹93.29 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,82,98,635 shares |
| Share Holding Post Issue | 2,48,68,635 shares |
| Market Maker Portion | 3,36,000 shares Alacrity Securities Ltd. |
Virtual Galaxy Infotech IPO Reservation
Virtual Galaxy Infotech IPO offers total 47,30,000 shares. Out of which 12,44,000 (26.30%) allocated to QIB, 9,50,000 (20.08%) allocated to NII, 22,00,000 (46.51%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 3,36,000 (7.10%) |
| QIB Shares Offered | 12,44,000 (26.30%) |
| NII (HNI) Shares Offered | 9,50,000 (20.08%) |
| Retail Shares Offered | 22,00,000 (46.51%) |
| Total Shares Offered | 47,30,000 (100%) |
Virtual Galaxy Infotech IPO Timeline (Tentative Schedule)
Virtual Galaxy Infotech IPO opens on May 9, 2025, and closes on May 14, 2025.
| IPO Open Date | Fri, May 9, 2025 |
| IPO Close Date | Wed, May 14, 2025 |
| Tentative Allotment | Thu, May 15, 2025 |
| Initiation of Refunds | Fri, May 16, 2025 |
| Credit of Shares to Demat | Fri, May 16, 2025 |
| Tentative Listing Date | Mon, May 19, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 14, 2025 |
Virtual Galaxy Infotech IPO Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹1,42,000 |
| Retail (Max) | 1 | 1000 | ₹1,42,000 |
| HNI (Min) | 2 | 2,000 | ₹2,84,000 |
| Lot Size Calculator | |||
Virtual Galaxy Infotech IPO Promoter Holding
The promoters of the Company are Avinash Narayanrao Shende and Sachin Purushottam Pande.
| Share Holding Pre Issue | 87.95% |
| Share Holding Post Issue |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
About Virtual Galaxy Infotech Limited
Incorporated in September 1997, Virtual Galaxy Infotech Limited (VGIL) is an IT services and consulting firm based in Nagpur, Maharashtra, India.
VGIL delivers innovative software products and services across multiple sectors, including Banking and finance, ERP, e-government, Web Services, Cloud Computing, Big Data, IoT, and System Integration.
The company has successfully provided advanced technology solutions to more than 5,000 bank branches, manufacturing firms, and businesses.
Their offerings focus on transaction automation, customer service delivery, compliance, and decision support.
The company’s flagship product, “e-banker,” is a comprehensive Core Banking Solution designed to address the dynamic techno-financial environment of banking institutions.
The company has over 300 professionals dedicated to delivering high-quality software solutions for clients.
VGIL’s expertise extends to supporting diverse organizations, including bank branches, manufacturing setups, and business houses, ensuring reliable and efficient technology services that empower organizations to thrive in a fast-evolving digital landscape.
The company holds several quality certifications, including ISO 9001:2015, ISO/IEC 27001:2013, ISO/IEC 20000-1:2018, and ISO/IEC 23001-7:2023.
The company serves commercial banks, cooperative banks, NBFCs, SACCOs in the BFSI sector, and corporate clients in the sugar, solvex, textiles, fertiliser, seed, and education industries.
The company serves clients in over 15 Indian states and has expanded internationally to Tanzania and Malawi.
As of December 31, 2024, the company had a total strength of 329 employees on its payroll.
Competitive Strength
- Offer integrated software solutions for the banking and financial services sector.
- Diversified business across several verticals.
- Diversified revenue streams.
- Recurring and non-recurring, repeat revenues from long-standing customer relationships.
- Experienced promoters and senior management team with strong industry expertise and successful track record.
Company Financials
Virtual Galaxy Infotech Limited Financial Information (Restated Consolidated)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 116.93 | 84.36 | 67.80 |
| Revenue | 63.58 | 59.76 | 43.44 |
| Profit After Tax | 16.54 | 0.72 | 0.40 |
| Net Worth | 41.40 | 20.40 | 20.14 |
| Reserves and Surplus | 30.40 | 9.40 | 9.14 |
| Total Borrowing | 38.64 | 38.85 | 35.56 |
| Amount in ₹ Crore | |||
Key Performance Indicator (KPI)
The market capitalization of Virtual Galaxy Infotech IPO is Rs 353.13 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 53.52% |
| ROCE | 31.68% |
| Debt/Equity | 0.93 |
| RoNW | 39.95% |
| PAT Margin | 26.04 |
| Price to Book Value | 5.66 |
Check Virtual Galaxy Infotech IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.04 | 6.65 |
| P/E (x) | 15.71 | 21.35 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Virtual Galaxy Infotech IPO Objectives)
The Company Virtual Galaxy Infotech IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Capital expenditure towards setting up additional development facility in Nagpur, Maharashtra; | 342.68 |
| 2 | Repayment/ prepayment of certain borrowings availed by the Company | 30.00 |
| 3 | Investment in procuring GPU, server & storage system at Data Centre; | 50.50 |
| 4 | Funding of expenditure related to enhancement, maintenance and upgrading existing products through manpower hiring | 189.00 |
| 5 | Funding for business development and marketing activities | 140.60 |
| 6 | General corporate purposes |
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