Virtual Galaxy Infotech IPO opens on May 9: Here's all you need to know

Virtual Galaxy Infotech aims to raise ₹93.29 crore through a fresh issue of ₹6.57 million equity shares

Virtual Galaxy Infotech IPO: The initial public offering (IPO) of Virtual Galaxy Infotech will open for subscription on Friday, May 9, 2025. The Nagpur-based company aims to raise ₹93.29 crore through a fresh issue of ₹6.57 million equity shares. There is no offer for sale (OFS) component. The company has reserved around 50 per cent of the issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors (NIIs).

 

Here are the key details of Virtual Galaxy Infotech SME IPO: 

Virtual Galaxy Infotech IPO price band, lot size

The company has set the price band for Virtual Galaxy Infotech IPO in the range of ₹135-142 per equity share. The minimum lot size for an application is 1,000 shares. A retail investor would require a minimum investment amount of ₹1,35,000 to bid for one lot. The minimum investment required for high-net-worth individuals (HNIs) is ₹2,84,000 for two lots.  

 

Virtual Galaxy Infotech IPO key dates 

The four-day subscription window will tentatively close on Wednesday, May 14, 2025. The basis of allotment is expected to be finalised on Thursday, May 15, 2025, according to the red herring prospectus (RHP). Shares of Virtual Galaxy Infotech are expected to be listed on the NSE SME platform on Monday, May 19, 2025. 

 

Virtual Galaxy Infotech IPO registrar, lead manager

Maashitla Securities is the registrar of the issue. Smart Horizon Capital Advisors is the sole book-running lead manager for the issue. 

 

Virtual Galaxy Infotech IPO GMP

On Wednesday, the unlisted shares of Virtual Galaxy Infotech were trading flat at ₹142, the upper price band, in the grey market premium (GMP), according to sources tracking unofficial market activities.

 

Virtual Galaxy Infotech objective

According to RHP, the company aims to utilise ₹34.26 crore from net issue proceeds for capital expenditure towards setting up additional development facility in Nagpur, Maharashtra, ₹3 crore for repayment/prepayment of certain borrowings availed by the company. Additionally, ₹5.05 crore for investment in procuring GPU, server & storage system at data centre, ₹18.90 crore for funding of expenditure related to enhancement, maintenance and upgrading existing products through manpower hiring, and ₹14.06 crore for funding for business development and marketing activities. The remaining funds will be used for general corporate purposes. 

 

About Virtual Galaxy Infotech

Founded in 1997 in Nagpur, Virtual Galaxy Infotech is a SaaS product focused company engaged in providing core banking software solution, IT solutions, ERP implementation and customized software solutions development, IT services for the BFSI, ERP, and E-Governance domains. It is primarily involved in the development, customization, installation, and implementation of software applications, along with comprehensive post-implementation support, monitoring, and maintenance services for the delivered solutions. The company has diverse clientele including banks, microfinance institutions and non-banking financial companies (NBFCs).

 

Virtual Galaxy Infotech financial overview

For the nine-month period ended December 31, 2024, the company reported a standalone revenue from operations of ₹101.24 crore and profit after tax (PAT) of 27.41 crore. In the fiscal year 2023-24 (FY24), Virtual Galaxy’s standalone revenue from operations grew 5.09 per cent year-on-year (Y-o-Y) to ₹61.46 crore from ₹58.48 crore in FY23. It reported a PAT of ₹16.3 crore in FY24compared to ₹1.79 crore in the previous fiscal.