Virtual Galaxy Infotech IPO Day 3 update: Subscription crosses 4x, GMP 56%

Virtual Galaxy Infotech IPO GMP today: The unlisted shares of Virtual Galaxy Infotech, whose initial public offering (IPO) enters the third day of its subscription window, commanded a strong premium today, Tuesday, May 13, 2025. Sources tracking unofficial market activities revealed that Virtual Galaxy Infotech shares were trading at ₹ 217 apiece, reflecting a grey market premium (GMP) of ₹ 75 or 52.82 per cent against the upper end of the IPO price band of ₹ 142.

 

Virtual Galaxy Infotech IPO subscription status

Virtual Galaxy Infotech IPO has so far received a strong response from investors, being subscribed around 4.17 times as of 5 PM on Tuesday, May 12, according to NSE data.

 

 

Virtual Galaxy Infotech IPO details

The SME offering valued at around ₹93.29 crore comprises an entirely fresh issue of 6.57 million equity shares with no offer for sale (OFS) components. 

Virtual Galaxy Infotech IPO is available at a price band of ₹135-142 per share, with a lot size of 1000 shares. Accordingly, investors can bid for a minimum of 1000 shares and in multiples thereof, with a minimum investment required of ₹1,42,000.

 

As the subscription window closes tomorrow, Wed, May 14, 2025, the basis of allotment is likely to be finalised on Thu, May 15, 2025. Successful allottees will receive the company’s shares in their demat accounts on Fri, May 16, 2025.

 

Virtual Galaxy Infotech shares are expected to list on the NSE SME platform on Mon, May 19, 2025.

 

Maashitla Securities is the registrar for the Virtual Galaxy Infotech IPO, while Smart Horizon Capital Advisors is the sole book-running lead manager of the public issue.

 

Virtual Galaxy Infotech IPO objective

Virtual Galaxy Infotech intends to utilise 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 customised 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.