Arkade Developers IPO: Here's What You Need to Know
Arkade Developers Ltd. is a growing real estate development firm with a strong presence in Mumbai. As of July 31, 2023, the company had developed 1.80 million square feet of residential property.
Arkade Developers IpoReal EstateMumbaiUnistone CapitalBigshare Services Pvt LtdReal Estate MumbaiSep 14, 2024
The company is planning to raise ₹410 crore through the IPO, with a price band set between ₹121-128 per share. Investors can bid for a minimum of one lot consisting of 110 shares. Based on the upper price band, the company's post-listing market capitalization is expected to reach ₹2,376 crore.
The IPO will involve the issuance of ₹410 crore worth of fresh shares, with no offer-for-sale (OFS) component. The company has already raised ₹20 crore in a pre-IPO placement. Approximately 50% (₹204 crore) of the offer is reserved for Qualified Institutional Buyers (QIBs), 15% (₹61 crore) for Non-Institutional Investors, and 35% (₹143 crore) for retail investors.
The funds raised will be used to develop existing and upcoming projects, acquire future real estate projects, and for general corporate purposes.
Arkade Developers Ltd. is a growing real estate development firm with a strong presence in Mumbai. As of July 31, 2023, the company had developed 1.80 million square feet of residential property. Since 2017, through the first quarter of FY 2023, the company has launched 1,040 residential units and sold 792 units in the Mumbai Metropolitan Region (MMR).
The company reported a revenue of ₹224 crore in FY 2023, ₹237 crore in 2022, and ₹113 crore in 2021. Unistone Capital is the sole book-running lead manager (BRLM) for the IPO, while Bigshare Services Pvt. Ltd. will serve as the registrar for the offer.
The IPO allotment is expected to be finalized on September 20, 2024, and Arkade Developers’ shares will be listed on the BSE and NSE, with a tentative listing date of September 24, 2024.
About Arkade Developers Ltd. Arkade Developers Ltd. is a real estate development company that focuses on developing residential properties in Mumbai.
About Unistone Capital Unistone Capital is a financial services company that provides investment banking and advisory services.
About Bigshare Services Pvt. Ltd. Bigshare Services Pvt. Ltd. is a registrar and transfer agent that provides share registry and other related services to listed companies.
Frequently Asked Questions
What is the price band for the Arkade Developers IPO?
The price band for the Arkade Developers IPO is set between ₹121-128 per share.
How many shares can I bid for in the IPO?
Investors can bid for a minimum of one lot consisting of 110 shares.
What is the expected market capitalization of the company after listing?
Based on the upper price band, the company's post-listing market capitalization is expected to reach ₹2,376 crore.
What is the purpose of the IPO?
The funds raised will be used to develop existing and upcoming projects, acquire future real estate projects, and for general corporate purposes.
When is the IPO allotment expected to be finalized?
The IPO allotment is expected to be finalized on September 20, 2024.
Related News Articles
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.