Did You Subscribe To Arkade Developers IPO on Last Day?

The initial public offering (IPO) subscription period for real estate developer Arkade Developers will close on Thursday, September 19. On Monday, September 16, the ₹410 crore book-built issue went on sale. Retail and non-institutional investors (NIIs) have responded well to it. The company raised about ₹122.40 from anchor investors before the IPO. 

A portion of the IPO proceeds will be used for the expenses involved in creating the ongoing projects and financing the purchase of unidentified land for general corporate purposes.

At 12:07 PM, September 19, 2024, Arkade Developers IPO subscribed 41.99 times. The public issue subscribed 42.33 times in the retail category, 0.90 times in QIB, and 94.73 times in the NII category.

On the last day at 09:56 AM, Arkade Developers IPO’s last GMP stood at ₹85. With the price band of ₹128.00, Arkade Developers IPO’s estimated listing price is ₹213 (cap price + today’s GMP). The expected percentage gain/loss per share for Arkade Developers IPO is 66.41%.

The real estate development company Arkade Developers Ltd. (ADL) is focused on creating luxurious, aspirational lifestyle residential properties in Mumbai, Maharashtra, the commercial hub of India. The company’s operations can be broadly divided into two categories: (i) developing and building residential properties on land it has acquired (New Projects) and (ii) renovating already-existing properties (Redevelopment Projects).

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.