Arkade Developers IPO Raises Rs 122.40 Cr from Anchor Investors
Arkade Developers, a Mumbai-based realty firm, has raised Rs 122.40 crore from anchor investors ahead of its Rs 410 crore IPO. The company has a significant presence in Mumbai and has developed 1.80 million square feet of residential property.
Arkade Developers IpoReal EstateMumbaiAnchor InvestorsInitial Public OfferingReal Estate MumbaiSep 13, 2024
The company has fixed a price band of Rs 121-128 per share for its IPO. On Tuesday, the company issued 95,62,500 shares to anchor investors at Rs 128 per share, aggregating to Rs 122.40 crore. These investors include BNP Paribas Financial Markets -- ODI, Societe Generale-ODI, and Saint Capital Fund.
The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale (OFS) component. Proceeds from the issue will be used for development of the company's ongoing as well as upcoming projects, funding acquisition of future real estate projects, and general corporate purposes.
Arkade Developers has a significant presence in Mumbai, with 1.80 million square feet of residential property developed as of July 31, 2023. The company has launched 1,040 residential units and sold 792 residential units in different markets in the Mumbai Metropolitan Region (MMR) in Maharashtra between 2017 and Q1 2023.
The company's revenue in fiscals 2023, 2022, and 2021 stood at Rs 224.01 crore, Rs 237.18 crore, and Rs 113.18 crore, respectively. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 110 shares and in multiples thereof.
About Arkade Developers
Arkade Developers is a fast-growing real estate development company with a significant presence in Mumbai. The company has developed several residential projects in the Mumbai Metropolitan Region (MMR) and has a strong track record of delivering quality projects on time.
Information
The Indian real estate sector has seen a significant surge in demand in recent years, driven by government initiatives and increasing urbanization. The sector is expected to continue growing, driven by demand for housing and commercial spaces.
Arkade Developers is a Mumbai-based real estate development company that aims to provide quality housing and commercial spaces to its customers. The company has a strong track record of delivering projects on time and has a significant presence in the Mumbai Metropolitan Region (MMR).
Keywords Arkade Developers IPO, Real Estate, Mumbai, Anchor Investors, Initial Public Offering
Tags Arkade Developers IPO, Real Estate, Mumbai, Anchor Investors, Initial Public Offering
FAQs
Q What is the size of Arkade Developers' IPO?
A The IPO size is Rs 410 crore.
Q What is the price band for the IPO?
A The price band is Rs 121-128 per share.
Q Who are the anchor investors in the IPO?
A The anchor investors include BNP Paribas Financial Markets -- ODI, Societe Generale-ODI, and Saint Capital Fund.
Q What will the proceeds from the IPO be used for?
A The proceeds will be used for development of the company's ongoing as well as upcoming projects, funding acquisition of future real estate projects, and general corporate purposes.
Q How many shares can investors bid for?
A Investors can bid for a minimum of 110 shares and in multiples thereof.
Frequently Asked Questions
What is the size of Arkade Developers' IPO?
The IPO size is Rs 410 crore.
What is the price band for the IPO?
The price band is Rs 121-128 per share.
Who are the anchor investors in the IPO?
The anchor investors include BNP Paribas Financial Markets -- ODI, Societe Generale-ODI, and Saint Capital Fund.
What will the proceeds from the IPO be used for?
The proceeds will be used for development of the company's ongoing as well as upcoming projects, funding acquisition of future real estate projects, and general corporate purposes.
How many shares can investors bid for?
Investors can bid for a minimum of 110 shares and in multiples thereof.
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