Arkade Developers IPO: The initial public offering (IPO) of real estate company Arkade Developers Limited is about to be launched. The company has fixed a price band of Rs 121-128 per share for this IPO. Let us tell you that this IPO will open on September 16 and will close on September 19. Big (anchor) investors will be able to bid for this IPO on September 13. The IPO is based on fresh shares worth Rs 410 crore. This does not include an offer for sale (OFS).
what will happen to the money
The money raised from this IPO will be used for the development of the company’s current and upcoming projects and the acquisition of future real estate projects. Apart from this, the company will also use the money for general corporate purposes. Unistone Capital is the merchant banker for this IPO. Bigshare Services is the registrar.
110 shares in one lot
There are 110 shares in one lot of IPO. This means that an investment of Rs 14,080 will have to be made. Arcade Developers reported a net profit of Rs 122.81 crore with a revenue of Rs 635.71 crore for the financial year ended March 31, 2024. At the same time, in the financial year 2022, the company’s profit stood at Rs 50.77 crore with a revenue of Rs 224.01 crore.
About the Company
Arcade Developers, which has been in existence since 1986, is a fast-growing real estate development company with a good presence in Mumbai. According to a report by Moneycontrol, in the month of February, Arcade Developers announced an investment of about Rs 700 crore in three projects in Mumbai. These projects will be completed in the next three to four years. These projects include Arcade Nest in the suburb of Mulund (West), Goregaon and Vile Parle. The owner of the company is Amit Jain. According to Amit Jain, the company will focus on a mix of greenfield and redevelopment projects to move forward.
