Virtual Galaxy Infotech Ltd. was incorporated on September 12, 1997. The company is a SaaS provider offering core banking software, ERP, IT, and e-governance solutions. It serves banks, NBFCs, and government bodies with products like E-Banker, IBS-ERP, and V-Pay, delivering end-to-end software development, implementation, and support services.
| Bidding Dates |
|---|
| 09 May 2025 - 14 May 2025 |
| Subscription |
|---|
| 215.08x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,35,000 | 1 | 1 | 1000 | 6.6 M | ₹135 - ₹142 | 64.72 % | ₹887.0 M - ₹932.9 M | RHP DOC |
Virtual Galaxy Infotech IPO SUBSCRIPTION STATUS
14 May '25Virtual Galaxy Infotech IPO overall subscription rate was 215.08 times the total available shares
Virtual Galaxy Infotech IPO retail subscription rate was 178.09 times in the retail segment
Virtual Galaxy Infotech IPO non-institutional investor subscription rate was 790.83 times in the non-institutional investor category
Virtual Galaxy Infotech IPO Qualified Institutional Bidder subscription rate was 68.23 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 May 2025 (Day 4) | 178.09x | 790.83x | 68.23x |
13 May 2025 (Day 3) | 40.78x | 50.48x | 1.79x |
12 May 2025 (Day 2) | 7.64x | 7.08x | 0.88x |
09 May 2025 (Day 1) | 0.33x | 0.52x | 0.88x |
Virtual Galaxy Infotech FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY24 | 16.5 | 63.5 | 28.4 | -25.8 | 49.4% |
| FY23 | 0.7 | 59.7 | 9.4 | 1.8 | 20.0% |
| FY22 | 0.4 | 43.3 | 11.8 | 79.2 | 21.1% |
Virtual Galaxy Infotech IPO SUBSCRIPTION STATUS DETAILS
Virtual Galaxy Infotech had 6.6 M shares on offer
Virtual Galaxy Infotech IPO offer price was in the range ₹135 - ₹142
Virtual Galaxy Infotech IPO minimum Investment was ₹135000
Virtual Galaxy Infotech IPO issue size was ₹ 887.0 M - ₹ 932.9 M
Virtual Galaxy Infotech had a minimum lot size of 1000 Shares per application
Virtual Galaxy Infotech NUMBER OF SHARES ON OFFER
Virtual Galaxy Infotech IPO IMPORTANT DATES
| Issue Open Date | 09 May 2025 |
| Issue close Date | 14 May 2025 |
| Allotment Date | 15 May 2025 |
| Refund Date | 16 May 2025 |
| Demat Account Credit Date | 16 May 2025 |
| Listing Date | 19 May 2025 |
| Listing on Exchange(s) | NSE |
| Virtual Galaxy Infotech Allotment Status | Exchange/ Registrar |
Virtual Galaxy Infotech IPO subscription opened on 09 May 2025, and closed on 14 May 2025
IPO allotment for Virtual Galaxy Infotech was finalized on Thursday, 15 May 2025
IPO listing for Virtual Galaxy Infotech was on NSE on Monday, 19 May 2025
Virtual Galaxy Infotech IPO LISTING GAINS
| Issue Price (adjusted) | 142.0 |
| Listing Open Price | 180.0 |
| Listing Close Price | 189.0 |
| Listing Gain% | 26.8% |
| Current Gain% | 10.6% |
Virtual Galaxy Infotech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Virtual Galaxy Infotech Ltd. | 157 | 390.4 | 8.5 | 0.2 | 2.1 | 21.1 | 15.4 | 183.3 | 52.2 | 46.1 | 43.5 | 18.5 | 43.5 |
| One97 Communications Ltd. | 1441.6 | 92425.7 | 142.2 | 1.2 | 10.3 | 3.4 | 2.3 | 9291 | 21.9 | 553 | 184 | 10.1 | 114.7 |
| PB Fintech Ltd. | 1604.5 | 74239.4 | 99.2 | 1 | 10.1 | 9.2 | 7.7 | 7166.4 | 33.1 | 669.9 | 89.8 | 16.2 | 98.3 |
| Affle 3I Ltd. | 1645.6 | 23183.1 | 48.5 | 2.5 | 8.2 | 12.4 | 10.3 | 2787.6 | 18.1 | 454.9 | 19.1 | 33.9 | 19.2 |
| Pine Labs Ltd. | 154.4 | 17820.2 | 140 | 0.7 | 6.3 | 1.9 | 0.8 | 2847.2 | 22.3 | 112.5 | 177.3 | 1.1 | 212.8 |
| Fractal Analytics Ltd. | 817.7 | 14061.6 | 42.8 | 4.1 | 9.2 | 6.6 | 3362.6 | 19.4 | 292.2 | 31 | 19.1 |
Virtual Galaxy Infotech INFORMATION ON IPO ISSUE
About Virtual Galaxy Infotech
Virtual Galaxy Infotech Ltd. was incorporated on September 12, 1997. The company is a SaaS provider offering core banking software, ERP, IT, and e-governance solutions. It serves banks, NBFCs, and government bodies with products like E-Banker, IBS-ERP, and V-Pay, delivering end-to-end software development, implementation, and support services.
Object of the Issue
- Capital expenditure towards setting up an additional development facility in Nagpur, Maharashtra
- Repayment/ prepayment of certain borrowings availed
- Investment in procuring a GPU, server & storage system at a data centre
- Funding of expenditure related to enhancement, maintenance and upgrading existing products through manpower hiring
- Funding for business development and marketing activities
- General corporate purpose
Virtual Galaxy Infotech - PROMOTERS
| Name |
|---|
| Sachin Purushottam Pande |
| Avinash Narayanrao Shende |
Virtual Galaxy Infotech Book Running Lead Manager
Smart Horizon Capital Advisors Private Limited
director@shcapl.com
Virtual Galaxy Infotech Registrar to the issue
Maashitla Securities Private Limited
ipo@maashitla.com
Virtual Galaxy Infotech Strengths
Integrated platform
The company offers a one-stop software solution for banks and financial institutions through its E-Banker platform, which supports core banking, compliance, fraud detection, payments, and digital services
Multiple business verticals
The company operates across diverse sectors, serving clients in banking, financial services, ERP, and e-governance. Its customer base includes banks, NBFCs, cooperatives, corporates across industries like sugar and textiles, as well as government bodies such as the Maharashtra Labour Welfare Board and MSAMB
Rigorous quality assurance
The company follows strict quality assurance practices, testing software thoroughly in sandbox and production environments before deployment. Its QA process ensures a seamless user experience and has earned global certifications
Virtual Galaxy Infotech Risks
High client concentration
The company earns most of its revenue from banks, government bodies, and private sector clients through project-based contracts in core banking, ERP, and e-governance. This dependence on a limited number of clients and varying project volumes poses a risk to its financial stability, as losing or failing to secure key orders may significantly impact its business performance
Dependence on competitive bidding
The company relies heavily on winning IT software and infrastructure projects through competitive bidding, which introduces unpredictability in its revenue. Failure to consistently pre-qualify, compete effectively, or win bids—especially in the absence of suitable partners—may limit growth and impact financial performance
Exposure to cybersecurity threats
The company faces potential risks from cybersecurity threats such as phishing, hacking, data theft, and advanced persistent threats. Despite existing safeguards, unauthorized access or data breaches—whether internal or external—could compromise client information and damage the company’s reputation
IPO FAQs
The promoters of the company are Sachin Purushottam Pande and Avinash Narayanrao Shende.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 135.0 - 142.0.
The IPO application opens on May 09, 2025 and closes on May 14, 2025.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 135,000.0, the maximum value for this IPO is Rs 142,000.0.
This IPO will be allotted on May 15, 2025.
The refund will be credited to your account on May 16, 2025.
The allotted shares will be credited to your demat on May 16, 2025.
Virtual Galaxy Infotech Ltd.’s shares listed on the stock exchanges on May 19, 2025.