Arkade Developers Makes a Strong Debut on Stock Exchanges with 36% Profit on Listing Day
The company launched 1,040 residential units in Maharashtra's Mumbai Metropolitan Region (MMR) between 2017 and Q1 2023, and it sold 792 residential units in different markets.
Real EstateIpoListingStock ExchangeMumbai Metropolitan RegionReal Estate MaharashtraSep 24, 2024
On the NSE, it began trading at Rs 175.9, up 37.4 per cent. Shares of Arkade Developers increased 4.1 per cent to Rs 182.2 each following their NSE listing at a 36.7 per cent premium over the issue price. The touched a day-high level of Rs 190 per share on the national stock exchange, surging almost 48.4 per cent.
Because the minimum bid quantity in the Arkade Developers IPO was 110 shares, successful bidders who were allotted shares in the primary issue were sitting on listing gains of Rs 5,170 (Rs 47 x 110) as soon as the stock started to trade on exchanges.
The final day of the Arkade Developers IPO bidding saw the issue being subscribed 106.83 times. For 2,37,75,719 equity shares of the offer, the bids received for 2,54,00,26,280 shares in the initial public offering.
The initial public offering (IPO) represented a new share issuance of Rs 410 crore, with a price range of Rs 121–Rs 128 per share. The offer-for-sale (OFS) component was absent. The funds raised will go towards general corporate purposes, the development of the company's current and upcoming projects, and the purchase of future real estate projects.
The company launched 1,040 residential units in Maharashtra's Mumbai Metropolitan Region (MMR) between 2017 and Q1 2023, and it sold 792 residential units in different markets. For fiscal years 2023, 2022, and 2021, respectively, Arkade Developers reported revenue of Rs 224.01 crore, Rs 237.18 crore, and Rs 113.18 crore.
Information
Arkade Developers is a real estate development company that focuses on developing residential and commercial projects in the Mumbai Metropolitan Region (MMR). The company was founded in 2010 and has since developed several successful projects in the region.
Arkade Developers is a leading real estate development company in India, with a strong presence in the Mumbai Metropolitan Region (MMR). The company is committed to developing high-quality residential and commercial projects that meet the needs of its customers.
Frequently Asked Questions
What was the listing price of Arkade Developers' shares on the NSE?
The shares were listed at Rs 175 each on the National Stock Exchange (NSE).
What was the premium over the issue price on listing day?
The shares were listed at a 36.7 per cent premium over the Rs 128 issue price.
How many residential units did Arkade Developers launch in MMR between 2017 and Q1 2023?
The company launched 1,040 residential units in Maharashtra's Mumbai Metropolitan Region (MMR) between 2017 and Q1 2023.
What is the purpose of the funds raised from the IPO?
The funds raised will go towards general corporate purposes, the development of the company's current and upcoming projects, and the purchase of future real estate projects.
What is the revenue of Arkade Developers for fiscal years 2023, 2022, and 2021?
For fiscal years 2023, 2022, and 2021, respectively, Arkade Developers reported revenue of Rs 224.01 crore, Rs 237.18 crore, and Rs 113.18 crore.
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