Virtual Galaxy Infotech Ltd IPO to open for subscription on May 9, 2025

Virtual Galaxy Infotech Limited (VGIL), a leading Hybrid SaaS and enterprise software solutions provider for the BFSI sector, announced that its Initial Public Offering (IPO) will open for subscription on May 09, 2025, with a price band of ₹135-142 per share. The IPO, which closes on May 14, 2025, consists of a fresh issue of 65.7 lakh equity shares with a face value of ₹10 each, aiming to raise ₹93.29 crore through the book-building route. The company plans to list on the NSE Emerge platform.

The IPO reserves 18.40 lakh shares for anchor investors, with allocations as follows: QIBs (12.44 lakh), retail investors (22.00 lakh), and NIIs (9.50 lakh).

Smart Horizon Capital Advisors Private Limited is the Book Running Lead Manager, and Maashitla Securities Private Limited is the Registrar to the issue.

VGIL intends to utilise ₹34.27 crore from the IPO proceeds towards capital expenditure for setting up an additional development facility in Nagpur, ₹3.00 crore for repayment/prepayment of certain borrowings availed by the company, ₹5.05 crore for procuring GPU, server & storage system at data centre, ₹18.90 crore for funding expenditure related to enhancement, maintenance and upgrading existing products and ₹14.06 crore for funding business development and marketing activities. The remaining capital will be used for general corporate purposes.

The company has raised ₹21.44 crore in a pre-IPO funding round in July 2024, from the marquee investors. The company reported revenue of ₹101.24 crore and a profit after tax (PAT) of ₹27.41 crore for the first nine months of FY 2024-25, ended December 31, 2024, as compared to a revenue of ₹61.46 crore and a profit (PAT) of ₹16.3 crore in the fiscal year 2024.

Headquartered in Nagpur, VGIL is a SaaS solutions provider specializing in core banking software, ERP implementation, and customized IT services for BFSI, ERP, and E-Governance sectors. Founded in 1997 by technocrats Avinash Shende and Sachin Pande, VGIL offers end-to-end software development end-to-end software development, implementation, and post-deployment support.

VGIL serves a wide clientele, including commercial banks, cooperative societies, and NBFCs, with products like E-Banker (core banking), IBS-ERP (integrated business management), E-APMC (agricultural market solutions), and V-Pay (digital payments). With 26+ years of expertise and 329 employees, it operates across 15+ Indian states and African markets like Tanzania and Malawi.

The company combines deep domain knowledge with innovative technology, delivering secure, scalable solutions to streamline financial and governance operations for diverse institutions.

Source : Equity Bulls

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VirtualGalaxyInfotech IPO FundRaising PriceBand