Virtual Galaxy Infotech Limited, a Nagpur based IT services and consulting firm, has launched its Initial Public Offering (IPO) on May 9, 2025. The company aims to raise Rs 93.29 crore through a fresh issue of 65.7 lakh equity shares, with the subscription window open until May 14, 2025 .
Virtual Galaxy IPO Overview
Incorporated in 1997, Virtual Galaxy Infotech is a SaaS focused company providing core banking software, ERP solutions, IT services, and customised software for the BFSI, ERP, and e-governance sectors. It offers end-to-end services, including consultation, design, implementation, and ongoing support. Its flagship product, E-Banker, serves banks, societies, and NBFCs, available both on premises and as a SaaS model for flexible deployment. Other key products include IBS-ERP for small and mid sized businesses, e-APMC for agricultural market committees, and V-Pay for digital payments. The portfolio also includes V-SOC, E-Autopsy Software, VGST, and LOS (Loan Origination System), reflecting its diverse software offerings for financial institutions and government bodies.
Virtual Galaxy IPO Details
Virtual Galaxy IPO is a bookbuilding IPO of Rs 92.29 crores. The issue is a complete fresh issue of Rs 93.29 crores. Smart Horizon Capital Advisors Private Limited is the book running lead manger of the Virtual Galaxy Infotech IPO, Maashitla Securities Private Limited is the Registrar for the issue. Market Maker for Virtual Galaxy IPO is Alacrity Securities Limited.
| Issue Type | Bookbuilding IPO |
| Face Value | Rs 10 per share |
| Issue Price | Rs 135 – 142 per share |
| Lot Size | 1000 shares per lot |
| Issue Size | Rs 93.29 crore |
| Fresh Issue | Rs 93.29 crore |
| Offer for Sale (OFS) | Rs 0 crore |
| Listing at | NSE SME |
| Market Capitalization | Rs 353.13 cr |
| Book Running Lead Managers | Smart Horizon Capital Advisors Private Limited |
| Registrar | Maashitla Securities Private Limited |
| Market Maker | Alacrity Securities Limited |
Virtual Galaxy IPO Timeline
Virtual Galaxy Infotech IPO opens on 9th May 2025 and Closes on 14th May 2025. Find Virtual Galaxy IPO tentative dates below.
| IPO Open Date | 09-May-2025 (Friday) |
| IPO Close Date | 14-May-2025 (Wednesday) |
| Allotment | 15-May-2025 (Thursday) |
| Initiation of Refunds | 16-May-2025 (Friday) |
| Demat Credit of Shares | 16-May-2025 (Friday) |
| Listing Date | 19-May-2025 (Monday) |
| Cut off time for UPI mandate confirmation | 14-May-2025 at 5PM |
Virtual Galaxy IPO Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. The following table shows the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
| Retail (Minimum) | 1 | 1000 | Rs 1,42,000 |
| Retail (Maximum) | 1 | 1000 | Rs 1,42,000 |
| HNI (Minimum) | 2 | 2000 | Rs 2,84,000 |
Virtual Galaxy IPO Objectives
The proceeds from the Virtual Galaxy Infotech IPO will be utilized for following purposes:
- Capital Expenditure: Setting up an additional development facility in Nagpur (Rs 34.27 crore)
- Debt Repayment: Repaying or prepaying certain borrowings (Rs 3 crore)
- Infrastructure Upgrade: Investing in GPU, server, and storage systems (Rs 5.05 crore)
- Product Enhancement: Enhancing existing products through manpower hiring (Rs 18.9 crore)
- Business Expansion: Expanding business development and marketing activities (Rs 14.06 crore)
- General Corporate Purposes: Meeting other operational requirements (Rs 18.02 crore)
Virtual Galaxy Infotech Financial Performance
Find Virtual Galaxy Infotech last 3 years financial details below.
| FINANCIALS | 31-Mar-24 (Crs) | 31-Mar-23 (Crs) | 31-Mar-22 (Crs) |
| REVENUE | 63.58 | 59.76 | 43.44 |
| ASSETS | 116.93 | 84.36 | 67.80 |
| NET WORTH | 41.40 | 20.40 | 20.14 |
| TOTAL DEBT | 38.64 | 38.85 | 35.56 |
| PAT | 16.54 | 0.72 | 0.40 |
Virtual Galaxy Infotech IPO Strengths and Risks
Strengths:
- Comprehensive one-stop software solutions for banking and financial services
- Diversified business across multiple verticals, including BFSI and ERP
- Strong in-house technology capabilities for custom software development
- Established client relationships in the BFSI and e-governance sectors
- High customer retention through integrated, scalable, and secure solutions
- Experienced management team with deep industry knowledge and expertise
- Robust intellectual property portfolio and proprietary software products
- Focus on innovative, customer-centric solutions for digital transformation
- Cost-effective solutions with high operational efficiency and scalability
Risks:
- Dependency on orders from banks, government, and private clients.
- Disruptions in IT systems or data breaches impact business.
- Dependency on software customization as per latest technology.
- Delay in procuring critical data center components impacts growth.
- Expansion risks for Mihan SEZ development facility in Nagpur.
- Dependency on data centers for technology platform efficiency.
- Technical issues in software products may lead to litigation.
- Inability to obtain or protect intellectual property rights.
Virtual Glaxy IPO Grey Market Premium (GMP)
As of 10th May 2025, the Grey Market Premium (GMP) for Virtual Galaxy Infotech’s IPO is Rs 20 per share. This indicates a potential listing premium approximately 14% over the upper price band of Rs 142.
Virtual Glaxy Infotech IPO Review: Avoid
Disclaimer: This blog’s content is intended solely for informational and educational purpose only. Before making any investment decisions, it is recommended that investors consult with a certified financial advisor.