Virtual Galaxy Infotech IPO Day 2 update: Subscription rises 1.4x, GMP 14%

Virtual Galaxy Infotech IPO subscription status: The initial public offering (IPO) of Information Technology (IT) services and consulting firm Virtual Galaxy Infotech has received a favourable response from investors, getting fully subscribed on the second day of its subscription window. The SME offering, which opened for subscription on Friday, May 9, has been oversubscribed by 1.48 times as of 12 PM on Monday, May 12, 2025.

Virtual Galaxy Infotech IPO grey market premium (GMP)

The favourable sentiment for the ₹93.29 crore offering, which is available at a price band of ₹135–142 per share and a lot size of 1,000 shares, was also observed in the grey market. Sources tracking unofficial market activities revealed that the unlisted shares of Virtual Galaxy Infotech were trading at around ₹162 per share, reflecting a grey market premium (GMP) of 14.08 per cent over the upper end of the issue price.

 

Virtual Galaxy Infotech IPO details

Virtual Galaxy Infotech IPO comprises an entirely fresh issue of 6.57 million equity shares with no offer for sale (OFS) component. The public offering will remain open for subscription until Wednesday, May 14.

 

Investors can bid for a minimum of 1,000 shares of Virtual Galaxy Infotech IPO, and in multiples thereof, with the minimum investment amount required at ₹1,42,000.

Virtual Galaxy Infotech IPO allotment date, listing date

The Virtual Galaxy Infotech IPO will close for subscription on May 14. Following the closure of the subscription window, the basis of allotment of the company's shares is tentatively scheduled to take place on Thursday, May 15, 2025. Successful allotees will receive the company's shares in their demat account on Friday, May 16, 2025. 

 

Shares of Virtual Galaxy Infotech are slated to list on the NSE SME on Monday, May 19, 2025.

Virtual Galaxy Infotech IPO registrar, lead manager

Maashitla Securities serves as the registrar for the public issue, while Smart Horizon Capital Advisors is the sole book-running lead manager.

Virtual Galaxy Infotech IPO objective

Virtual Galaxy Infotech proposes to use the proceeds from the public offering for capital expenditure towards setting up an additional development facility in Nagpur, Maharashtra, and for the repayment/prepayment of certain borrowings. The company will further use the proceeds 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.

About Virtual Galaxy Infotech

Virtual Galaxy Infotech is a SaaS product-focused company engaged in providing core banking software solutions, IT solutions, ERP implementation, and customized software solutions development. The company provides IT services for the BFSI, ERP, and E-Governance domains. It is primarily involved in the development, customisation, installation, and implementation of software applications, along with comprehensive post-implementation support, monitoring, and maintenance services for the delivered solutions.