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.
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