Arkade Developers IPO: Read all the important things from price band to GMP
The action in the IPO market is continuing and in this episode, another issue is going to open next week, regarding which it is also being speculated that investors can get high returns in the listing of the stock. The Arkade Developers IPO issue will open next week. The company is trying to raise more than Rs. 400 crore through the issue. If you are also looking for an opportunity to invest in the IPO, then read all the important information related to this issue and also the indications of the gray market regarding the listing.
Important points of Arkade Developer IPO
The IPO will open for subscription on September 16 and investors can invest in the issue till September 19. The company is trying to raise Rs. 410 crore through this issue.
The price band for the issue has been fixed at Rs. 121 to Rs. 128. Investors can apply for a lot of at least 110 shares, after which they can increase their bid accordingly. If the company is successful in raising the amount, then based on the upper level of the price band, the market cap of the company will be Rs. 2376 crore, 35 percent of the issue i.e. shares worth Rs. 143 crore have been reserved for retail investors. The amount raised through the issue will be used in already released and some upcoming projects.
At the upper price band, Arcade Developers will have a market cap of around Rs. 2,376 crore. The IPO will be a completely fresh issue with no offer-for-sale (OFS) component. The company has already raised Rs. 20 crore through a pre-IPO placement round.
The company said it has reserved 50% of the IPO or shares worth Rs. 204 crore for QIBs (qualified institutional bidders). At the same time, 15% of shares worth Rs. 61 crore have been set aside for NII (non-institutional investors). The remaining 35% or shares worth Rs. 143 crore are reserved for retail investors.
Read More.. Western Carriers IPO to open on Sept 13: Should you BID?
Read More.. Deccan Transcon Leasing IPO to open on Sept 13: Should you BID?
Arkade Developers IPO Details
| IPO Date | September 16, 2024 to September 19, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹128 per share |
| Lot Size | 110 Shares |
| Total Issue Size | 32,031,250 shares (aggregating up to ₹410.00 Cr) |
| Fresh Issue | 32,031,250 shares (aggregating up to ₹410.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 153,626,016 |
| Share holding post issue | 185,657,266 |
Arkade Developers IPO Timeline (Tentative Schedule)
Arkade Developers IPO opens on September 16, 2024, and closes on September 19, 2024.
| IPO Open Date | Monday, September 16, 2024 |
| IPO Close Date | Thursday, September 19, 2024 |
| Basis of Allotment | Friday, September 20, 2024 |
| Initiation of Refunds | Monday, September 23, 2024 |
| Credit of Shares to Demat | Monday, September 23, 2024 |
| Listing Date | Tuesday, September 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 19, 2024 |
Arkade Developers IPO Lot Size
Investors can bid for a minimum of 110 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹14,080 |
| Retail (Max) | 14 | 1540 | ₹197,120 |
| S-HNI (Min) | 15 | 1,650 | ₹211,200 |
| S-HNI (Max) | 71 | 7,810 | ₹999,680 |
| B-HNI (Min) | 72 | 7,920 | ₹1,013,760 |
What are the signals of the gray market?
Before the IPO opens, the gray market is anticipating a great listing. On Friday, the gray market premium was Rs. 63. That is, based on the upper price band of Rs. 128, the stock can be listed at a premium of about 50 percent.
Keep in mind that the signals of the gray market change rapidly. Along with the response received to the IPO, the premium of the gray market is affected sharply based on the market conditions. If you want to invest in the issue, then understand the company’s health and performance estimates at your level and then decide to invest.
About Arkade Developers Limited
Arkade Developers Limited is a real estate development company focused on developing high-end, sophisticated lifestyle residential developments in Mumbai, Maharashtra.
The company’s business can be divided into two segments:
- Development/construction of residential buildings on land acquired by the company (new projects); and
- Redevelopment of existing buildings (Redevelopment Projects)
Arkade Developers is a fast-growing real estate company based in Mumbai. As of July 31, 2023, the company had developed 18 lakh square feet of residential properties. Between 2017 and the first quarter of 2023, the company launched 1,040 residential units and sold 792 residential units across various markets in the Mumbai Metropolitan Region (MMR) in Maharashtra.
(Disclaimer: The advice or views given on BseNseIPO are the personal views, and the website or management is not responsible for it. Before investing, please consult your financial advisor or certified expert.)
