Arkade Developer IPO: If you are thinking of betting on an IPO, then there is useful news for you. From tomorrow, Monday, another company’s IPO is opening for investment. This IPO is of Arkade Developers. Real estate development company Arkade Developers is set to launch its IPO on Monday, September 16. The upcoming IPO will be open for subscription on Wednesday, September 19. The price band for the IPO has been fixed at ₹ 121 to ₹ 128 per share. This is a book-built issue with a target to raise ₹ 410.00 crore. This includes a fresh issue of 3.2 crore shares altogether.
what is the detail
The minimum lot size for application is 110 shares, and retail investors are required to invest a minimum of ₹14,080. According to the DRHP, Amit Mangilal Jain is the promoter of the company. Allotment of Arcade Developers IPO is expected to be completed on Friday, September 20. The IPO is to be listed on BSE and NSE, with a tentative listing date set for Tuesday, September 24. The book-running lead manager is Unistone Capital Private Limited. The registrar to the issue is Bigshare Services.
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What is going on GMP?
According to InvestorGain, Arkade Developers IPO shares are trading at ₹ 70, which means the estimated listing price is likely to be ₹ 198. That is, there can be a profit of up to 55%. Brokerage firm Choice Broking has given a ‘Subscribe’ rating to Arkade Developers IPO with strong growth prospects and valuation, the company said in a note.
company business
Arcade Developers Limited is an emerging real estate development company with a strong foothold in Mumbai. As of July 31, 2023, the firm has successfully developed 1.80 million sq ft of residential space. From 2017 to the first quarter of FY 2023, Arcade launched 1,040 residential units and sold 792 of them in the Mumbai Metropolitan Region (MMR). The capital raised through this issue will be allocated for the development of existing and upcoming real estate ventures, acquisition of future projects and general corporate purposes.
