Arkade Developers IPO Subscribed 17.25 times on Day 2

On day 2, Arkade Developers’ IPO witnessed an increased subscription from retail investors. Arkade Developers’ IPO is a book-built issue worth ₹410.00 crores. It is entirely a fresh issue of 3.2 crore shares. The Arkade Developers IPO price band is set at ₹121 to ₹128 per share. 

Arkade Developers IPO offers 3,18,75,000 shares. 63,75,000 (20%) to QIB, 47,81,250 (15%) to NII, 1,11,56,250 (35%) to RII and 95,62,500 (30%) to Anchor investors..

Day Wise Subscription

On the first day of bidding, Arkade Developers IPO subscribed 6.17 times. The public issue subscribed 8.51 times in the retail category, 0.25 times in QIB, and 8.34 times in the NII category.

On 2nd day of bidding, Arkade Developers IPO subscribed 17.25 times. The public issue subscribed 21.14 times in the retail category, 0.47 times in QIB, and 29.87 times in the NII category. 

Grey Market Premium

Arkade Developers IPO last GMP is ₹86. With a price band of ₹128.00, Arkade Developers IPO’s estimated listing price is ₹214 (cap price + today’s GMP). The expected percentage gain/loss per share is 67.19%.

About Arkade Developers Limited

A renowned real estate development company in Mumbai, Maharashtra, Arkade Developers Limited specialises in building opulent residential buildings. The business is divided into two main segments:

• New Developments: Arkade Developers-owned property is being used to create upscale residential structures.
• Redevelopment projects involve modernising and revitalising pre-existing structures to provide premium living areas.

Since its founding, Arkade Developers has launched and sold many residential apartments successfully throughout Mumbai’s main markets. Between 2017 and the first quarter of 2024, the company delivered 1,220 residential units and achieved amazing sales of 1,045 units. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.