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.
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