Arkade Developers' IPO Sees Unprecedented Demand, Subscribed 106.40 Times on Final Day
Arkade Developers, a fast-growing real estate development company with a significant presence in Mumbai, has witnessed an overwhelming response to its initial public offering (IPO).
Arkade DevelopersIpoReal EstateMumbaiUnistone Capital Pvt LtdReal Estate MumbaiSep 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 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.
Arkade Developers is a prominent player in the Mumbai real estate market, with a strong track record of delivering high-quality projects. The company's IPO is seen as a significant opportunity for investors to participate in the growth story of the Indian real estate sectorUnistone Capital Pvt Ltd is a leading investment banking firm that provides a range of financial services, including IPO management, to its clients.
Frequently Asked Questions
What is the size of Arkade Developers' IPO?
The IPO is sized at Rs 410 crore.
What is the price band for the IPO?
The price band is fixed at 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 will be used for the development of the company's ongoing and upcoming projects, funding the acquisition of future real estate projects, and general corporate purposes.
How many times was the IPO subscribed on the final day?
The IPO was subscribed 106.40 times on the final day.
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