The initial public offering (IPO) of Arkade Developers Ltd has garnered significant interest, achieving a remarkable subscription rate of 16.20 times by the second day of bidding on Tuesday.
According to data from the National Stock Exchange (NSE), the IPO attracted bids for an impressive 3,851,04,390 shares against the 23,775,719 shares available for purchase. The segment designated for non-institutional investors saw a staggering subscription rate of 28.26 times, while Retail Individual Investors (RIIs) participated with a subscription rate of 19.99 times. Meanwhile, Qualified Institutional Buyers (QIBs) accounted for a more modest but still notable subscription level at 44 percent.
Arkade Developers Ltd’s IPO was fully subscribed on its opening day—Monday—culminating in an overall subscription rate of 5.79 times.
The real estate firm successfully raised Rs 122.40 crore from anchor investors ahead of this public offering and has set its share price within a range between Rs 121 and Rs 128 as part of its total IPO size amounting to Rs 410 crore.
Key Details About the Offering
This initial share sale is scheduled to close on September 19 and consists entirely of new equity shares valued at Rs 410 crore; there is no offer-for-sale component included in this issuance.
Funds generated from this IPO will be allocated towards advancing both ongoing and future projects within the company’s portfolio as well as financing potential acquisitions in real estate ventures and covering general corporate expenses.
Arkade Developers stands out as an emerging player in Mumbai’s real estate market with rapid growth trajectories that reflect its expanding influence in urban development sectors across the city.
Unistone Capital Private Ltd serves as the lead manager overseeing this public offering process.
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