Arkade Developers IPO subscribed over 30 times on final day so far; should you apply?
Arkade Developers IPO: The real estate company plans to utilise the funds raised to acquire new land and complete its ongoing projects. It does not intend to use the proceeds to pay down debt.
Real estate developer, Arkade Developers’ initial public offer (IPO) was subscribed 30.39 times on Thursday, September 19, 2024, the final day of the bidding process. At the last count (10:09 AM), the IPO registered bids for 72 crore shares as against the 2.4 crore shares on offer, according to provisional exchange data.
Arkade Developers IPO: Subscription status
Arkade Developers IPO subscription status: At the last count (10:09 AM), the IPO registered bids for 72 crore shares as against the 2.4 crore shares on offer, according to provisional exchange data.
Arkade Developers IPO: QIBs and NIIs
The portions reserved for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) were subscribed 0.61 times and 65.81 times, respectively.
Arkade Developers IPO: RIIs and employees
The portions reserved for retail investors and employees were booked 35.40 times and 32.96 times, respectively.
Arkade Developers IPO: Anchor investors
Ahead of the opening of the subscription window, Arkade Developers raised Rs 122.4 crore from anchor investors.
Arkade Developers IPO: Fresh issue size
The IPO of Arkade Developers comprises a fresh issuance of Rs 410 crore, which means that the whole proceeds of the offer will go to the company. It does not intend to use the proceeds to pay down debt.
Arkade Developers IPO: Should you subscribe?
Zee Business Managing Editor Anil Singhvi suggests applying for the IPO for a reasonable listing gain and from a medium-term perspective.
What SBI Securities recommends?
SBI Securities recommends subscribing to the Arkade Developers IPO, citing the potential for both short-term listing gains and long-term investment value.
Arkade Developer IPO: Allotment date
The allotment for the real estate company IPO is fixed on September 20, 2024.
What does Arkade Developers?
Arkade Developers specialises in the development of premium residential properties in Mumbai. Their operations include both the development and construction of new residential projects and the redevelopment of existing properties.