Arkade Developers IPO Sees Overwhelming Response, Subscribed 16.20 Times
Arkade Developers, a fast-growing real estate development company, has received a strong response to its IPO, with non-institutional investors leading the charge.
Arkade Developers IpoReal EstateMumbaiUnistone Capital Private LtdIpo SubscriptionReal Estate MumbaiSep 17, 2024
The company's IPO, which aims to raise Rs 410 crore, received bids for 38,51,04,390 shares against 2,37,75,719 shares on offer, as per NSE data.
The portion for non-institutional investors attracted 28.26 times subscription, while the category for Retail Individual Investors (RIIs) got subscribed 19.99 times. The quota for Qualified Institutional Buyers (QIBs) fetched 44 per cent subscription.
The IPO, which is entirely a fresh issue of equity shares, will conclude on September 19. The company has fixed a price band of Rs 121-128 per share.
Arkade Developers has raised Rs 122.40 crore from anchor investors. Proceeds from the issue will be used for the development of the company's ongoing as well as upcoming projects, funding the acquisition of future real estate projects, and general corporate purposes.
Arkade Developers is a fast-growing real estate development company with a significant presence in Mumbai. Unistone Capital Private Ltd is the manager to the offer.
Information
Arkade Developers is a prominent player in the Mumbai real estate market, with a focus on developing residential and commercial projects. The company's IPO is expected to provide a boost to its growth plans, enabling it to take on new projects and expand its presence in the market.
Unistone Capital Private Ltd is a leading investment banking firm that provides a range of services, including IPO management, mergers and acquisitions, and equity research. The firm has a strong track record of managing successful IPOs and has worked with several high-profile clients in the past.
Frequently Asked Questions
What is the size of the Arkade Developers IPO?
The IPO aims to raise Rs 410 crore.
What is the price band for the IPO?
The price band is Rs 121-128 per share.
Who is the manager to the offer?
Unistone Capital Private Ltd is the manager to the offer.
What will the proceeds from the issue be used for?
The proceeds will be used for the development of the company's ongoing as well as upcoming projects, funding the acquisition of future real estate projects, and general corporate purposes.
When will the IPO conclude?
The IPO will conclude on September 19.
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.