Virtual Galaxy Infotech Ltd (VGIL) is set to launch its initial public offering (IPO) on May 9, 2025, with the issue closing on May 14, 2025. The company aims to raise Rs 93.29 crore through this public offering. The price band for the IPO has been fixed between Rs 135 and Rs 142 per share, and the lot size is 1,000 equity shares, each carrying a face value of Rs 10. The company will be listed on the NSE Emerge platform.
As part of the offering, VGIL has earmarked 18,40,000 shares for anchor investors, with the anchor portion opening on May 8, 2025. The allocation structure also includes 12,44,000 shares for qualified institutional buyers (QIBs) and 22,00,000 shares for retail individual investors (RIIs). Smart Horizon Capital Advisors Private Limited is acting as the book running lead manager for this IPO.
The IPO proceeds will be utilised for multiple strategic initiatives. VGIL has allocated Rs 34.27 crore for capital expenditure, specifically to establish a new development facility in Nagpur. Another Rs 3 crore will be directed toward repayment or prepayment of certain borrowings, while the remaining funds will support ongoing enhancements, maintenance, and marketing efforts.
Founded in 1997, Virtual Galaxy Infotech is a notable provider of hybrid SaaS and enterprise software solutions, with a strong focus on the BFSI sector. Its comprehensive product suite includes well-known software solutions such as E-Banker, IBS-ERP, E-APMC, E-Autopsy, and V-Pay. With a legacy spanning over 26 years, VGIL serves clients in more than 15 Indian states and has expanded its presence to international markets like Tanzania and Malawi in Africa.
Financially, the company has demonstrated strong growth. In the first nine months of the fiscal year 2024-25, VGIL reported a revenue of Rs 101.24 crore and a profit after tax (PAT) of Rs 27.41 crore—a significant jump from the previous year’s revenue of Rs 61.46 crore and PAT of Rs 16.3 crore. Additionally, VGIL had raised Rs 21.44 crore in pre-IPO funding in July 2024 from notable investors.
With its robust financial performance, proven track record, and expanding market footprint, the IPO is expected to attract strong investor interest.
