Arkade Developers Raises ₹122.4 Crore in Anchor Round Ahead of IPO
Real estate developer Arkade Developers Limited raises ₹122.4 crore from investors in anchor round ahead of IPO
Arkade DevelopersIpoReal EstateAnchor RoundInvestmentReal Estate NewsSep 13, 2024
The company has allocated 95,62,500 equity shares to nine anchor investors at an allocation price of ₹128 per share, with a face value of ₹10 per share. The anchor investors include Stern Global, BNP Paribas, Intuitive Alpha investments, Saint Capital, Societe Generale, NAV Capital, Visionary Value Fund, Gagandeep Credit Capital, and Rajasthan Global Securities.
BNP Paribas, Intuitive Alpha Investments, Saint Capital, and Stern Global were among the top anchor investors in the anchor issue, with BNP Paribas accounting for 20.43% of the allocation. The company did not disclose any mutual fund allotment through any schemes.
Arkade Developers is a real estate development company that focuses on developing high-end, sophisticated lifestyle residential developments. The company's business operations include constructing residential buildings on acquired land and re-developing existing buildings.
The company's public issue will open for subscription on Monday, September 16, and will close for public bidding on Thursday, September 19. The ₹410 crore public offer has a price band of ₹121 to ₹128 per equity share, with a minimum lot size of 110 shares and in multiples of 110 equity shares thereafter.
The company plans to use the funds raised from the public issue to develop ongoing projects, such as Arkade Nest, Prachi CHSL, and C-Unit. The funds will also be used to purchase property for real estate projects and to fund general business expenses.
In the financial year 2024, the company's net profit rose by 142%, while revenue grew by 184% compared to the previous year.
About Arkade Developers Limited
Arkade Developers Limited is a Mumbai-based real estate development company that focuses on developing high-end, sophisticated lifestyle residential developments.
About BNP Paribas
BNP Paribas is a French multinational bank and financial services company.
About Societe Generale
Societe Generale is a French multinational bank and financial services company.
About NAV Capital
NAV Capital is a private equity firm that invests in real estate and other sectors.
About Visionary Value Fund
Visionary Value Fund is a hedge fund that invests in various sectors, including real estate.
About Gagandeep Credit Capital
Gagandeep Credit Capital is a non-banking financial company that provides credit to individuals and businesses.
About Rajasthan Global Securities
Rajasthan Global Securities is a stock brokerage firm that provides trading and investment services.
Frequently Asked Questions
What is the size of the public issue of Arkade Developers Limited?
The public issue of Arkade Developers Limited is ₹410 crore.
What is the price band of the public issue of Arkade Developers Limited?
The price band of the public issue of Arkade Developers Limited is ₹121 to ₹128 per equity share.
What is the minimum lot size of the public issue of Arkade Developers Limited?
The minimum lot size of the public issue of Arkade Developers Limited is 110 shares and in multiples of 110 equity shares thereafter.
How much did Arkade Developers Limited raise in its anchor round?
Arkade Developers Limited raised approximately ₹122.4 crore in its anchor round.
Who are the anchor investors in Arkade Developers Limited's anchor round?
The anchor investors in Arkade Developers Limited's anchor round include Stern Global, BNP Paribas, Intuitive Alpha investments, Saint Capital, Societe Generale, NAV Capital, Visionary Value Fund, Gagandeep Credit Capital, and Rajasthan Global Securities.
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