Virtual Galaxy Infotech stock lists at 26% premium, misses GMP estimates

Virtual Galaxy Infotech listed at ₹180 per share, up 26.7 per cent over the issue price of ₹142 per share

Virtual Galaxy Infotech listing today: Shares of Virtual Galaxy Infotech made a robust stock market debut on the NSE SME platform on Monday, May 19, 2025. The company’s stock listed at ₹180 per share, up 26.7 per cent over the issue price of ₹142 per share.

 

However, the listing price of Virtual Galaxy Infotech was significantly below the grey market estimates. Ahead of the listing, unlisted shares of Virtual Galaxy Infotech were trading at ₹252 per share, commanding a grey market premium (GMP) of ₹110 or 77.46 per cent, according to sources tracking unofficial markets. 

Virtual Galaxy Infotech IPO details

The ₹93.29 crore SME IPO comprises an entirely fresh issue of 6.57 million shares. There is no offer for sale (OFS) component. The public issue opened for subscription on Friday, May 9, 2025, and ended on Wednesday, May 14, 2025. The basis of allotment of shares was finalised on Thursday, May 15, 2025.

 

The issue received a solid response from investors, getting oversubscribed by 231.45 times, according to data from National Stock Exchange (NSE). The non-institutional investors (NIIs) portion was oversubscribed by 590.27 times, followed by retail investors at 134.03 times and qualified institutional buyers (QIBs) at 129.72 times. 

 

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

 

According to the red herring prospectus (RHP), from the net issue proceeds, the company plans to use ₹34.36 crore for setting up an additional development facility in Maharashtra's Nagpur, ₹3 crore for repayment or prepayment of certain borrowings availed by the company. Apart from that, ₹5.05 crore will be used for procuring GPU, server & storage system at the data centre, ₹18.90 crore for enhancement, maintenance and upgradation of existing products through manpower hiring, and ₹14.06 crore for business development and marketing activities. The remaining funds will be used for general corporate purposes.  

About Virtual Galaxy Infotech

Incorporated in September 1997, Virtual Galaxy Infotech is an IT services and consulting firm based in Nagpur, Maharashtra. The SaaS product-focused company provides core banking software solutions, IT solutions, ERP implementation and customised software solutions development, and IT services for the BFSI, ERP, and E-governance domains. It is engaged in the development, customisation, installation, and implementation of software applications, post-implementation support, monitoring and maintenance services for the delivered solutions.  The company caters to banks, microfinance institutions and non-banking financial companies (NBFCs).