With the SME IPO market heating up, investors are in for a big treat! Veer Global Infraconstruction Ltd. is one of the latest IPOs to have hit the upcoming IPO scene. Let’s take a look at some of the important Veer Global Infraconstruction IPO details.
About the company
Veer Global Infraconstruction Ltd. is a relatively new company that was incorporated as recently as 2012. The primary business of the entity involves development of commercial, residential, real estate, and affordable housing projects. In addition to this, Veer Global Infraconstruction Ltd. is also involved in sales and marketing of its projects.
The company’s projects are spread across multiple locations including Mumbai, Vasai, Umroli, Boisar, Virar, and Shahada. As of 2020, Veer Global Infraconstruction Ltd. has around 5 completed residential projects in its hand and with as many as 6 new ones in the pipeline. The company’s focus is primarily on the affordable housing and low-income segment.
Veer Global Infraconstruction IPO details
Here are some of the important details of the Veer Global Infraconstruction Ltd. IPO including the Veer Global Infraconstruction IPO date and the Veer Global Infraconstruction share price.
Veer Global Infraconstruction IPO date
The Veer Global Infraconstruction Ltd. IPO issue is slated to open up to the public on September 30, 2020. This upcoming IPO issue from the company would be open for 10 days, with October 09, 2020 scheduled to be the offer closing date.
Veer Global Infraconstruction IPO issue size
The company with this new IPO issue is planning to issue around 1,756,000 equity shares up for subscription. The total value of this latest IPO issue from Veer Global Infraconstruction Ltd. is estimated to be around Rs. 4.92 crores.
Veer Global Infraconstruction IPO share price
The Veer Global Infraconstruction share price has been set at just Rs. 28 per equity share. The face value of the shares of the company is Rs. 10, which effectively means that the offer price comes with a share premium of Rs. 18 per share.
Veer Global Infraconstruction IPO listing
The Veer Global IPO is proposed to be listed on the National Stock Exchange (NSE). The concerned exchange has also given the company the necessary approvals in this regard.
Veer Global Infraconstruction IPO objectives
The net proceeds from the new IPO issue by Veer Global Infraconstruction Ltd. are to be used for the following three objectives.
- For meeting the working capital requirements of the company
- For general corporate purposes
- For meeting the expenses incurred in connection with the IPO issue
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