Latest news with #VirtualGalaxyInfotech
Mint
22-05-2025
- Business
- Mint
IPO euphoria returns! Companies line up offerings to capitalise on Indian stock market's rebound
India's primary market has witnessed a flurry of activity, as several companies are lining up to list their shares on the exchanges in May. Improved sentiment in the Indian stock market has revived the IPO space, bringing back the buoyancy seen in the recent past. While market activity has recently shown signs of a rebound, raising hopes that bidding for new issues will improve, nine companies have already listed their shares on Dalal Street after raising funds from investors, with eight being from the SME category. Ather Energy is the only mainboard company to have debuted on the exchanges since February. In terms of subscription, two SME IPOs—Srigee DLM and Virtual Galaxy Infotech—were subscribed 456 times and 178 times, respectively, as retail participation resumed after a period of inactivity. Ather Energy also saw its retail portion subscribed 2 times. In terms of current performance on the exchanges, most of these new listings have struggled, with six of them trading below their issue prices. Arunaya Organics has emerged as the biggest loser, trading 30% below its IPO price, followed by Kenrik Industries and Accretion Pharmaceuticals, both trading around 20% below their issue prices. On the positive side, Srigee DLM is currently trading 125.3% above its IPO price, while Virtual Galaxy Infotech is also trading 23% higher than its IPO price. In addition to the nine listings, another four companies are set to debut later this month. Among these, two belong to the mainboard category—Belrise Industries and Borana Weaves. The bidding for these has already begun, and they are likely to debut on Dalal Street on May 28 and May 27, respectively. The remaining two belong to the SME segment. Bidding is already open for Unified Data Tech Solutions and Dar Credit Capital. IPO activity for June also looks active, with the bidding for three mainboard issues—Prostarm Info Systems, Aegis Vopak Terminals, and Schloss Bangalore Limited—set to open at the end of this month. These companies are likely to debut on the exchanges during the first week of next month. Overall, 79 companies have entered the exchanges in the current calendar year so far, which is lower compared to 131 listings during the same period last year. The year 2024 emerged as a record-breaking year for the Indian primary market, with a whopping 340 companies making their debuts on the exchanges, helping to increase the size of the Indian stock market. Companies at the start of this year have held back their IPO plans, as weak market sentiment has made them wait for better market conditions to emerge. This has also led some of them to reduce their issue sizes. Companies that did raise funds during this period witnessed lukewarm demand for their offerings. The SME segment—typically a favourite among retail investors—also saw subdued interest, with the retail portion rarely crossing the 100-times subscription mark. This contrasts with most SME IPOs in 2024, where the retail portion was often oversubscribed by more than 100 times. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Economic Times
19-05-2025
- Business
- Economic Times
Virtual Galaxy Infotech shares list at 27% premium on NSE SME platform
Shares of Virtual Galaxy Infotech listed with a 26.76% premium at Rs 180 on the NSE SME platform in Monday's trade. ADVERTISEMENT Virtual Galaxy Infotech, a technology-driven company specializing in digital solutions and software services, attracted significant investor interest during its IPO subscription period. The IPO was subscribed over 200 times, driven by robust non-institutional interest. The QIB and retail segments were also subscribed over 100 times. The issue was priced at Rs 142 per share. The IPO proceeds are intended for capital expenditure towards setting up an additional development facility in Nagpur, repayment/prepayment of certain borrowings, investment in procuring GPU, server & storage systems at a data centre, enhancement and maintenance of existing products through manpower hiring, business development and marketing activities, and general corporate Galaxy Infotech, established in 1997 and based in Nagpur, specializes in IT services and consulting. The company offers a range of software products and services across various sectors, including banking and finance, ERP, e-governance, web services, cloud computing, big data, IoT, and system integrationThe company's strong fundamentals, coupled with a rapidly growing digital services industry, have been the key drivers of its popularity among investors. Its strong client base, innovative product offerings, and robust growth trajectory have further fueled positive market sentiment. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
India Today
15-05-2025
- Business
- India Today
Rs 87,000 profit on listing? This IPO's GMP suggests bonanza for investors
The initial public offering (IPO) of Virtual Galaxy Infotech is showing strong listing prospects, days before its listing date of May 19, market premium (GMP) of Virtual Galaxy Infotech is suggesting a possible profit of up to Rs 87,000 for investors who receive share grey market is currently quoting a premium of Rs 87 per share for the issue as of 10 am. Given the lot size of 1,000 equity shares, this points to expected listing gains of Rs 87, Galaxy Infotech IPO opened for subscription on Friday, May 9, 2025, and closed on Wednesday, May public issue was entirely a fresh share sale, with the company offering up to 65.7 lakh equity shares to raise Rs 93.29 crore. The shares were priced at Rs 142 Galaxy Infotech, set up in September 1997, is an IT services and consulting company based in Nagpur, Maharashtra. It provides software products and services across a wide range of industries. These include banking and finance, enterprise resource planning (ERP), e-government, web services, cloud computing, big data, internet of things (IoT), and system INTEREST FROM INVESTORSThe IPO received a strong response from all categories of investors as it was subscribed 231.45 times portion reserved for qualified institutional buyers (QIBs) was subscribed 129.72 times, while non-institutional investors (NIIs) bid for 590.27 times the shares on offer. The retail portion was also highly active, booked 134.03 investors were allowed to apply for just one lot, which meant 1,000 shares costing Rs 1.42 lakh. Non-retail investors had to apply for a minimum of two lots, totalling 2,000 shares or Rs 2.84 lakh. The company's shares will be listed on the NSE Emerge platform, which is meant for small and medium enterprises (SMEs).Before the IPO opened, Virtual Galaxy Infotech raised Rs 26.13 crore through an anchor round by allotting 18.40 lakh shares to anchor investors at Rs 142 per company's current market value stands at Rs 353 crore. For the financial year ended March 31, 2024, Virtual Galaxy Infotech reported a net profit of Rs 16.54 crore. Its total revenue for the same period was Rs 63.58 Horizon Capital Advisors acted as the book-running lead manager for the issue. Maashitla Securities served as the registrar, while Alacrity Securities is the market maker for the final allotment of shares is expected to be announced on Thursday, May 15. The listing of shares is likely to take place on Monday, May 19. advertisement
&w=3840&q=100)
Business Standard
15-05-2025
- Business
- Business Standard
Virtual Galaxy Infotech IPO allotment; check status, GMP, listing date
Virtual Galaxy Infotech IPO allotment status: The basis of allotment of shares for Virtual Galaxy Infotech is expected to be finalised today, Thursday, May 15, 2025. The initial public offering (IPO) of Virtual Galaxy Infotech, which closed for subscription on Wednesday, May 14, received an overwhelming response from investors, with the offering being oversubscribed by nearly 231 times. The highest demand for the SME offering came from Non-Institutional Investors (NIIs), who oversubscribed the category reserved for them by 590 times. This was followed by retail investors at 134 times and Qualified Institutional Buyers (QIBs) at 129 times. Once the allotment is finalised, investors can check their status on the official websites of the NSE and Maashitla Securities, the registrar for the Virtual Galaxy Infotech IPO. Alternatively, investors can also follow these direct links to check the Virtual Galaxy Infotech IPO allotment status online: Virtual Galaxy Infotech IPO details The SME offering, valued at around ₹93.29 crore, comprises an entirely fresh issue of 6.57 million equity shares with no offer for sale (OFS) component. The public issue was open for subscription from Friday, May 9, 2025, to Wednesday, May 14, 2025. It was available at ₹135–142 per share, with a lot size of 1,000 shares. Virtual Galaxy Infotech proposes to utilise the proceeds from the public issue for capital expenditure towards setting up an additional development facility in Nagpur, Maharashtra, and for the repayment/prepayment of certain borrowings. The company will further use the proceeds to invest in procuring GPUs, server & storage systems at a data centre, fund expenditure related to enhancement, maintenance, and upgrading of existing products through manpower hiring, support business development and marketing activities, and for general corporate purposes. Virtual Galaxy Infotech IPO grey market premium (GMP), listing estimate The unlisted shares of Virtual Galaxy Infotech were trading at around ₹229 apiece, reflecting a grey market premium (GMP) of ₹87 or 61.27 per cent over the upper end of the issue price of ₹142 apiece, according to sources tracking unofficial market activities. Shares of Virtual Galaxy Infotech are expected to debut on the NSE SME platform tentatively on Monday, May 19, 2025. The current GMP trend indicates a positive listing of the company's shares. Should the current GMP sustain, investors can expect the company's shares to list at around a 61 per cent premium on the exchange. However, it is important to note that GMP is an unregulated market indicator and should not be relied upon for determining the company's market performance. About Virtual Galaxy Infotech Based in Maharashtra, India, Virtual Galaxy Infotech is an IT services and consulting firm. The company offers core banking software solutions, IT solutions, ERP implementation, and customised software solutions development. The company provides IT services for the BFSI, ERP, and E-Governance domains. It is primarily involved in the development, customisation, installation, and implementation of software applications, along with comprehensive post-implementation support, monitoring, and maintenance services for the delivered solutions.
Mint
15-05-2025
- Business
- Mint
Virtual Galaxy Infotech IPO allotment in focus today; latest GMP, 5 steps to check status
Virtual Galaxy Infotech IPO allotment date: Virtual Galaxy Infotech IPO share allotment will be finalised today (Thursday, May 15). The investors who applied for the issue can check the Virtual Galaxy Infotech IPO allotment status on the Virtual Galaxy Infotech IPO registrar's portal, Maashitla Securities Private Ltd. On the final day, Virtual Galaxy Infotech IPO subscription status was 231.45 times, as per Investors can verify the allocation basis to determine if they have received shares and the number they have been allotted. The IPO allotment status displays the number of shares that have been allocated. For those applicants who did not receive shares from the company, the application refund process will start. Shares allotted to the designated individuals will be credited to their demat accounts. The demat account of individuals who received shares will be credited on Friday, May 16. As soon as the allotment is finalised today, the refund procedure will likewise start Friday. Virtual Galaxy Infotech IPO listing date is fixed for Monday, May 19 on NSE SME. If you have applied for the IPO, you can check your Virtual Galaxy Infotech IPO allotment status today on the website of the IPO registrar, Maashitla Securities Private Ltd. To access the registrar for the Virtual Galaxy Infotech IPO, Maashitla Securities Private Ltd, please click on the link provided. The landing page that appears upon clicking the link will look similar to the screenshot shown below. After the current IPOs, the dropdown will display the IPOs managed by the registrar that are not yet active. However, you can check the finalized allocation status for the Virtual Galaxy Infotech IPO online. Next, select the firm, Virtual Galaxy Infotech IPO, from the drop-down menu. As of late today, this information is available on the registrar's site. You can verify the IPO allocation status using the following IDs. Income Tax Permanent Account Number (PAN): You can track your application status using your linked Income Tax PAN. Choose PAN from the list and enter your 10-digit alphanumeric PAN number. After entering it, press "Submit". Application number or CAF number: Alternatively, you can check your allocation status by entering your CAF or application number. After inputting the application or CAF number, click "Search". A confirmation document for your IPO application should have been emailed to you. Follow the instructions as presented on that page. By clicking the "Submit" button, you can view the details of the shares allotted to you during the IPO. Beneficiary ID: You can also input the beneficiary ID associated with your demat account. Then, combine your depository participant (DP) ID and client ID into a single string. The NSDL string consists of alphanumeric characters, while the CDSL string consists of numbers. Please enter the customer ID and DP ID exactly as they appear. Both your client ID and DP can be found on your online DP statement and account statement. After that, click "Submit". Virtual Galaxy Infotech IPO GMP is +87. This indicates Virtual Galaxy Infotech share price were trading at a premium of ₹ 87 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Virtual Galaxy Infotech share price was indicated at ₹ 229 apiece, which is 61.27% higher than the IPO price of ₹ 142. According to the recent 11 sessions of grey market activities, today's IPO GMP shows an upward trend, indicating a potentially strong listing. The minimum GMP recorded is ₹ 0.00, while the maximum GMP is ₹ 87, as per experts at 'Grey market premium' indicates investors' readiness to pay more than the issue price.' Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
