Arkade Developers IPO: Mumbai Real Estate Firm to Raise Rs 410 Crore via Public Issue
The three-day initial public offering (IPO) of Arkade Developers, a Mumbai-based real estate company, will open on September 16 and conclude on September 19.
Real EstateIpoMumbaiArkade DevelopersInvestmentReal Estate MumbaiSep 06, 2024
The company's IPO is a fully fresh issue of equity shares worth Rs 410 crore, according to the Red Herring Prospectus (RHP). The company's operations are mostly located in Mumbai.
Arkade Developers proposes to utilise the net proceeds of the fresh issue towards acquisition of unidentified land and general corporate purposes. The company is owned by Amit Mangilal Jain and family.
Unistone Capital is the merchant banker to the issue, while Bigshare Services Pvt Ltd is the registrar to the offer, the papers filed with SEBI showed.
The shares of the mainboard issue will be listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Earlier in February this year, the company said it will be investing around Rs 700 crore in three projects in Mumbai that are expected to be completed over the next three to four years.
Frequently Asked Questions
What is the size of the Arkade Developers IPO?
The size of the Arkade Developers IPO is Rs 410 crore.
What is the purpose of the IPO?
The purpose of the IPO is to raise funds for acquisition of unidentified land and general corporate purposes.
Who is the merchant banker to the issue?
Unistone Capital is the merchant banker to the issue.
Where will the shares be listed?
The shares will be listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Who is the owner of Arkade Developers?
Amit Mangilal Jain and family own Arkade Developers.
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.