Arkade Developers IPO Sees Overwhelming Response with 106.40 Times Subscription on Final Day
Arkade Developers, a fast-growing real estate development company with a significant presence in Mumbai, has seen its initial public offering (IPO) subscribed 106.40 times on the last day of the offer.
Real EstateIpoArkade DevelopersUnistone Capital Pvt LtdMumbaiReal EstateSep 19, 2024
Qualified institutional buyers subscribed the offer 163.16 times while the quota for non-institutional investors fetched 162.75 times subscription. The portion for retail individual investors received 50.65 times subscription.
The initial public offering (IPO) of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription. The realty firm has raised Rs 122.40 crore from anchor investors.
The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore IPO, which 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 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 Pvt Ltd is the manager to the offer.
Information
Arkade Developers is a prominent player in the Mumbai real estate market, known for its innovative and luxurious projects.Unistone Capital Pvt Ltd is a leading investment banking and financial services company that provides a range of services, including IPO management, to its clients.
Frequently Asked Questions
What is the size of the Arkade Developers IPO?
The size of the Arkade Developers IPO is Rs 410 crore.
What is the price band for the IPO?
The price band for the IPO is Rs 121-128 per share.
Who is the manager to the offer?
Unistone Capital Pvt Ltd is the manager to the offer.
What will the proceeds from the issue be used for?
The 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.
How many times was the IPO subscribed on the last day?
The IPO was subscribed 106.40 times on the last day of the offer.
Related News Articles
Navigating the Shift: Unlocking Opportunities in Indian Real Estate through Joint Ventures
Indian real estate market is undergoing a significant shift, with rising land costs, developers increasingly turning towards joint development agreements...
Institutional Investments in Indian Real Estate Surge by 31% in Q1 2025
In the first quarter of 2025, institutional investments in Indian real estate experienced a significant 31% surge, reflecting the growing confidence in the sector's potential and resilience.
Delhi High Court Rejects Widow's Tax Exemption Claim for Purchasing Two Flats
The Delhi High Court has denied a widow's claim for capital gains tax exemption under Section 54F of the Income Tax Act, as she had purchased two non-adjacent flats in Noida using the proceeds from the sale of a plot inherited from her husband.
Microsoft's Rs 519 Crore Investment in Pune: A New Tech Hub Emerges
Microsoft invests in India's commercial real estate market with a significant purchase in Pune's Hinjewadi, a major IT hub.
AMFI Urges Centre to Restore Indexation Benefits for Debt Mutual Funds
Capital gains tax: AMFI requests restoration of indexation benefits for debt mutual funds after real estate sector breather
China's Economic Boost Sparks Hope for Indian Metal Companies
China's real estate industry has been struggling, but new stimulus measures aim to boost the sector and fuel demand for metals.