• Source:JND
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Arkade Developers IPO Status:  The initial public offering of Real estate firm Arkade Developers Ltd has finished two days of bidding with non-institutional investors taking the lead, trailed by retail investors. The IPO will close on September 19th. The day before the IPO surfaced, the company had raised Rs 122.40 crore from anchor investors. The company had set a price range of ₹121-128 per share for its ₹410 crore IPO.

Arkade Developers IPO GMP Today

Arkade Developers shares are trading with 86 rupees premium grey market, this shows that the share price of Arkade Developers was up against the IPO price, according to investorgain.com. Based on the upper end of the IPO price band and the current premium in the grey market, the expected listing price of Arkade Developers shares is estimated at Rs 214 per share, representing a 67.19 per cent increase from the IPO price of Rs 128.

Arkade Developer IPO Subscription Status

- The Akcade developer’s initial public offering was subscribed 16.21 times on the second day of subscription, according to BSE data.

- Retail investors portion is subscribed 20.00 times

- Non-institutional investors quota subscribed 28.27 times.

- The QIBs section booked 44 per cent.

- The employee portion is subscribed 19.25 times.

The arcade developer’s IPO subscription position stood at 5.79 times on the first bid day.

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Details of the IPO

- The company has set a price band of Rs 121-128 per share for its initial public offering of Rs 410 crore.
-  Public offering will end on September 19
- The IPO is entirely a new issue of equity shares worth Rs 410 crore and there is no offer-for-sale (OFS) component.
- Lot size - Investors must buy lots of 65 equity shares.
- Issue Size - Arkade Developers IPO aims have raised Rs 410 crore.

The proceeds of the issue will be used to develop the Company’s ongoing as well as upcoming projects, acquire future real estate projects and fund general corporate purposes.

Arcade Developers is a rapidly growing real estate development company with a significant presence in Mumbai.

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