Arkade Developers IPO Subscribed 6.17 times on Day 1

Arkade Developers Limited, a real estate development company, opened its IPO on September 16, 2024, and will close on September 18, 2024. Arkade Developers’ IPO is a book-built issue worth ₹410.00 crores. The issue is entirely a fresh issue of 3.2 crore shares. Arkade Developers IPO price band is set at ₹121 to ₹128 per share. 

The minimum lot size for an application is 110 Shares. The minimum amount of investment required by retail investors is ₹14,080. Unistone Capital Pvt Ltd is the book-running lead manager of the Arkade Developers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

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.

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

Arkade Developers is a premier real estate development firm specializing in creating luxurious residential properties in Mumbai, Maharashtra. The company operates in two primary segments:

• New Developments: Construction of high-end residential buildings on land owned by Arkade Developers.
• Redevelopment Projects: Modernisation and revitalisation of existing buildings into upscale residential spaces.

Since its inception, Arkade Developers has successfully launched and sold numerous residential units across Mumbai’s key markets. Between 2017 and the first quarter of 2024, the company delivered 1,220 residential units and achieved remarkable sales of 1,045 units. 

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.