Arkade Developers IPO: Mumbai-Based Real Estate Firm to Raise ₹410 Crore
The IPO will be open from September 16 to September 19, with a price range of ₹121-₹128 per equity share.
Arkade Developers IpoMumbai Real EstateIndian Ipo MarketUnistone CapitalBrlmReal Estate MaharashtraSep 10, 2024
The issue consists only of a fresh share offering, with no offer-for-sale (OFS) component. Category-wise reserved portions include 15% for non-institutional investors, 35% for retail investors, and 50% for qualified institutional buyers.
Investors can apply for a minimum of one lot, which consists of 110 shares or in multiples thereof. The funds raised will be used to purchase future real estate projects, complete current and planned acquisitions, and for corporate general purposes.
Unistone Capital is the sole book-running lead manager (BRLM) for the issue. The company's equity shares are expected to list on the BSE and NSE on September 24.
Arkade Developers has developed 1.80 million square feet of residential property in the Mumbai Metropolitan Region (MMR) in Maharashtra, as of July 31, 2023. The company launched 1,040 residential units and sold 792 residential units in various markets between 2017 and Q1 2023.
In terms of financials, the company reported revenue of ₹224.01 crore in fiscal 2023, ₹237.18 crore in fiscal 2022, and ₹113.18 crore in fiscal 2021.
About Arkade Developers
Arkade Developers is a prominent player in the Mumbai real estate market, with a strong track record of developing residential properties. The company has a majority stake in several partnership entities, which are also involved in real estate development.
Disclaimer This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions.
Unistone Capital is a leading investment banking firm that provides a range of financial services, including IPO management, equity research, and corporate finance advisory.
Information
The Indian real estate market has seen significant growth in recent years, driven by increasing demand for housing and commercial spaces. Mumbai, in particular, has been a hub for real estate development, with many prominent players operating in the market.
Keywords Arkade Developers, IPO, real estate, Mumbai, Unistone Capital, BRLM
Frequently Asked Questions
What is the price range for the Arkade Developers IPO?
The price range for the IPO is ₹121-₹128 per equity share.
What is the issue size of the Arkade Developers IPO?
The issue size is ₹410 crore.
What is the lot size for the IPO?
The lot size is 110 shares or in multiples thereof.
What is the expected listing date for the IPO?
The expected listing date is September 24.
Who is the BRLM for the IPO?
Unistone Capital is the sole BRLM for the issue.
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.