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.
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