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- By Aditya Pratap Singh
- Thu, 19 Sep 2024 07:01 PM (IST)
- Source:JND
Arkade Developers IPO: The initial public offering (IPO) of Arkade Developers Ltd, a real estate developer closed today i.e. September 19, and has been overwhelmingly subscribed. The price range for the Rs 410 crore IPO for the public issue has been set at Rs 121 to Rs 128. According to NSE, as of 6:48 p.m. on Thursday's fourth day of bidding, the IPO received bids for 2,53,78,49,380 shares at a subscription rate of 32.86 times, against the 2,37,75,719 shares on offer, that means the public issue has received a whopping 106.74 times bidding.
Arkade Developers IPO GMP Today
Arkade Developers Ltd.'s shares are trading at Rs 85 higher than the issue price in the grey market. The grey market premium (GMP) of Rs 85 implies that the grey market expects a listing gain of 66.41 per cent against the issue price (Rs 128). According to investorgain.com the shares of Arkade are trading at Rs 213, up Rs 85 against the price band.
Arkade Developers IPO Subscription Status
- The category Reserved for non-institutional investors was subscribed to 162.94 times
- The retail individual investors (RII) category was subscribed 51.24 times.
- The Qualified Institutional Buyers category received 163.16 per cent of subscriptions.
The IPO opened for public subscription on September 16 and will close today, i.e., September 19. The share allocation in the Arcade Developers IPO is expected to be finalized on September 20, while its shares are expected to be listed on both the BSE and NSE on September 24.
Arkade Developers IPO Details
- The price band for the IPO was set at Rs 121-128 per share.
- Public offering is opened for public subscription between September 16-19
- The public offering is an entirely fresh issue of equity shares worth Rs 410 crore. There is no any offer for sale shares.
- Arkade Developers Lot size - 65 equity shares is the lot size.
- IPO Issue Size - Arkade Developers surfaced an IPO of Rs 410 crore.
