Arkade Developers IPO 2024: A Detailed Guide to the Latest Updates
Get the latest updates on Arkade Developers IPO 2024, including allotment, GMP, listing date and time, and more.
Arkade Developers IpoIpo 2024Real EstateMumbaiBseNseReal Estate MumbaiSep 22, 2024
The bidding period for the IPO ran from September 16 to September 19, 2024, with the allotment finalized on September 20, 2024. Shares from the Arkade Developers IPO are set to be listed on both the BSE and NSE, with a tentative listing date of September 24, 2024.
Retail investors must apply for a minimum lot size of 110 shares, which requires an investment of Rs 14,080. Unistone Capital Pvt Ltd is serving as the book-running lead manager for the IPO, with Bigshare Services Pvt Ltd acting as the registrar.
The company has a significant presence in Mumbai, with a focus on mid-tier residential realty projects on both new and redevelopment segments in suburban Mumbai MMR region. Despite being in the capital-intensive sector, the company has very limited long-term borrowings since its projects are financed through internal accruals and promoter equity.
The proceeds from the Arkade IPO will be allocated to the development of ongoing and upcoming projects, financing future real estate acquisitions, and covering general corporate expenses.
Anand Rathi Research has recommended subscribing to the IPO, citing the company's business growth visibility and stable financial performance. The research firm has valued the IPO at 19.3 times PE and 3.2 times P/BV, with a market capitalization of Rs 23760 crore post-issue.
The company has a strong track record of completing projects on time, with 11 projects completed since 2003, covering 1 million square feet, mainly in Mumbai's western suburbs and south-central areas.
The IPO has received a robust response from investors, with qualified institutional buyers subscribing to the offer at an impressive rate of 163.16 times. Non-institutional investors and retail individual investors have also shown strong interest, with their portions receiving 162.75 times and 50.65 times subscription, respectively.
The listing date for the Arkade Developers IPO has been scheduled for Tuesday, September 24, 2024. Investors are eagerly awaiting further announcements regarding the exact listing date, as it marks an important milestone for the company following its public offering.
In conclusion, the Arkade Developers IPO 2024 is a significant event in the Indian real estate sector, offering investors an opportunity to participate in the company's growth story. With its strong track record, robust financials, and positive outlook, the IPO is expected to generate significant interest among investors.
Arkade Developers IPO Reservation
The company has reserved 63,75,000 shares (20%) for QIB, 47,81,250 shares (15%) for NII, 1,11,56,250 shares (35%) for RII, and 95,62,500 shares (30%) for anchor investors.
Frequently Asked Questions
What is the price band of the Arkade Developers IPO?
The company has set a price range of Rs 121 to Rs 128 per share for its Rs 410-crore IPO.
What is the minimum lot size for retail investors?
The minimum lot size for applications is 110 shares, requiring a minimum investment of Rs 14,080 for retail investors.
Who is the lead manager of the IPO?
Unistone Capital Pvt Ltd serves as the book-running lead manager for the Arkade Developers IPO, with Bigshare Services Pvt Ltd acting as the registrar.
What is the listing date of the IPO?
The tentative listing date has been scheduled for Tuesday, September 24, 2024.
What is the company's business segment?
Arkade Developers Limited is a real estate company specializing in high-end residential projects in Mumbai, Maharashtra.
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