Virtual Galaxy Infotech IPO: Check GMP Today, Subscription Status, Allotment Day, Lot Size, Listing Date

The initial public offering of Virtual Galaxy Infotech, which is an Information Technology (IT) services and consulting firm got a favourable response from investors on its second day of subscription.

Virtual Galaxy Infotech IPO: Day 2 Performance

On the second day of its subscription, the SME offering which opened on Friday got oversubscribed 1.48 times as of 12 pm on Monday.

Virtual Galaxy Infotech IPO: Grey Market Premium (GMP)

In the unofficial market the unlisted shares of Virtual Galaxy Infotech were trading at around Rs 162 per share, reflecting a grey market premium (GMP) of 14.08% over the upper end of the price issue.

Virtual Galaxy Infotech IPO: Details

Virtual Galaxy Infotech IPO consists of an entirely fresh issue of 6.57 million equity shares worth Rs 93.29 crore, with no offer for sale (OFS) component. The IPO will remain open for subscription until Wednesday, May 14, 2025.

The objective of the fundraise is to use the proceeds from the public offering for capital expenditure towards setting up an additional development facility in Nagpur, Maharashtra along with the repayment/prepayment of certain borrowings.

The company will also use the funds to invest in procuring GPUs, server & storage systems at a data centre, fund expenditure related to enhancement, maintenance, and upgrading existing products through manpower hiring, support business development and marketing activities, and for general corporate purposes.

The lot size for the Virtual Galaxy Infotech IPO is a minimum of 1,000 shares or multiples of 1,000 with the minimum requirement being Rs 1,42,000.

The price band for the Virtual Galaxy Infotech IPO is between Rs 135- Rs 142 per share.

The registrar for the public issue of Maashitla Securities, while Smart Horizon Capital Advisors is the only book-running lead manager for this issue.

Virtual Galaxy Infotech IPO: Allotment Date

The Virtual Galaxy Infotech IPO will close on May 14 and following the closure of the subscription window, the allotment of the company's shares is tentatively scheduled to take place on May 15, 2025.

Successful allottees will receive the shares of the company in their demat account on Friday, May 16, 2025.

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