Arkade Developers IPO: Allotment Status, GMP, and Listing Date Details
Check the application status, latest GMP, and listing date of Arkade Developers IPO, a real estate development company focused on Maharashtra.
Arkade Developers IpoGmpListing DateReal EstateMaharashtraReal Estate MaharashtraSep 20, 2024
The realty had received a strong response from the investors during the bidding process. Mumbai-based Arkade Developers sold its IPO in the price band of Rs 121-128 per share with a lot size of 110 shares, which was open for bidding between September 16 and September 19.
The company aimed to raise around Rs 410 crore from its primary offering, which was entirely a fresh share sale of 3,20,310,250 equity shares. The issue was overall subscribed a solid 106.83 times.
Strong bidding was led by qualified institutional bidders (QIBs) and non-institutional investors (NIIs), whose quotas were booked a solid 163.16 times and 163.02 times, respectively. The allocation for retail investors and employees were subscribed 51.39 times and 50.49 times, during the four-day bidding process.
The grey market premium of Arkade Developers has seen a sharp correction amid the volatility in the broader markets even after a strong bidding. Last heard, the company was commanding a premium (GMP) of Rs 60 per share in the unofficial market, suggesting a listing pop of about 48 per cent for the investors.
Arkade Developers is a real estate development company focused on developing high-end, sophisticated lifestyle residential developments in Mumbai, Maharashtra. The company's business can be divided into two segments fresh construction of residential buildings on land acquired by the company and redevelopment of existing buildings.
Brokerage firms were mostly positive on the issue suggesting to subscribe it for a long term citing its strong presence in Mumbai and MMR market, leadership position, time-bound delivery and experience management. However, ongoing litigations, rising costs, third party contractors, raw material cost and funds costs are the key concerns for the company.
Unistone Capital is the sole book running lead manager of the Arkade Developers IPO, while Bigshare Services is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE, with September 24 as the tentative date of listing of shares.
Investors, who had bid for the issue of Arkade Developers, can check the allotment status on the Bombay Stock Exchange (BSE) website Alternatively, investors can also check the allotment status on the website of Bigshare Services Private Limited.
Disclaimer Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
About Arkade Developers
Arkade Developers is a real estate development company focused on developing high-end, sophisticated lifestyle residential developments in Mumbai, Maharashtra.
About Unistone Capital
Unistone Capital is a leading investment banking firm that provides a range of services including IPO management, equity research, and more.
About Bigshare Services
Bigshare Services is a Sebi-registered entity that provides registrar services for IPOs and other corporate actions.
Frequently Asked Questions
When is the allotment status of Arkade Developers IPO expected to be finalized?
The allotment status of Arkade Developers IPO is expected to be finalized on Friday, September 20.
How can I check the allotment status of Arkade Developers IPO?
You can check the allotment status on the Bombay Stock Exchange (BSE) website or on the website of Bigshare Services Private Limited.
What is the grey market premium of Arkade Developers IPO?
The grey market premium of Arkade Developers IPO is currently at Rs 60 per share.
When is the listing date of Arkade Developers IPO?
The listing date of Arkade Developers IPO is tentatively scheduled for September 24.
Who is the book running lead manager of Arkade Developers IPO?
Unistone Capital is the sole book running lead manager of Arkade Developers IPO.
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