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14 Jun, 2025
Virtual Galaxy Infotech Limited, a Nagpur-based IT services and consulting firm, made a stellar debut on the NSE SME platform today, buoyed by overwhelming investor demand and a strong grey market premium (GMP) that signaled one of the most impressive listings in recent times.
The public issue, comprising a fresh issue of 6.57 million equity shares and valued at approximately ₹93.29 crore, was open for subscription from May 9 to May 14, 2025. Priced in the range of ₹135–142 per share with a lot size of 1,000 shares, the IPO attracted massive interest, being subscribed over 200 times overall. Notably, the Qualified Institutional Buyers (QIB) and retail segments were each subscribed more than 100 times, underscoring the broad-based enthusiasm for the offering.
Leading up to the listing, Virtual Galaxy Infotech’s shares commanded a robust GMP of around ₹87 per share-about 61% above the upper issue price of ₹142-reflecting bullish sentiment in the unofficial market. This premium suggested that the stock was expected to list at nearly 70% higher than its issue price, making it one of the most sought-after SME IPOs of the year. However, market experts cautioned that GMP is an unofficial indicator and can fluctuate rapidly with changing market sentiment.
The company intends to deploy the IPO proceeds for multiple growth initiatives, including:
Founded in 1997, Virtual Galaxy Infotech specializes in digital solutions and software services, with a diverse portfolio that spans core banking solutions, ERP systems, e-governance platforms, and custom IT services. The company serves a wide client base across the BFSI sector, government agencies, and industrial enterprises, leveraging a team of over 300 professionals and more than 26 years of industry experience.
The company’s strong fundamentals, innovative product offerings, and established client relationships have been key factors driving investor interest. Its focus on SaaS-based solutions and digital transformation aligns with the rapid growth of India’s digital services industry, further boosting its market appeal.
The blockbuster response to Virtual Galaxy Infotech’s IPO highlights robust investor confidence in technology-driven enterprises, especially those catering to the digital transformation needs of traditional sectors. As the company embarks on its next phase of expansion, all eyes will be on its post-listing performance and ability to deliver on its ambitious growth plans.
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