Arkade Developers IPO: Check subscription status, price band, lot size, minimum investment and more

The real estate development company Arkade Developers Limited's IPO opened for subscription on Monday, September 16. The subscription window for the mainboard issue will close on September 19.

Within the hours of launching, the IPO was fully subscribed. It received bids for 3,12,09,530 shares against 2,37,75,719 shares on offer, taking the subscription to 1.31 times on the first day of bidding.

Investors interested in applying for Arkade Developers IPO should check these key details about the mainboard issue before bidding:

Arkade Developers IPO offer size and price band

Arkade Developers IPO is a book-building issue worth ₹410 crore, consisting of an entirely fresh issue of 3.2 crore shares.

The company has reserved 50% of the net issue for the Qualified Institutional Buyer category, 35% for retail investors, and as much as 15% for Non-Institutional Investors NII (HNI).

Arkade Developers IPO price band has been fixed at ₹121 to ₹128 per share. Retail investors interested in applying for Arkade Developers IPO can place bids for a minimum of 1 lot, or 110 shares, which aggregates to an investment of ₹14,080.

On the other hand, Small Non-Institutional Investors (sNII) can place bids for a minimum of 15 lots or 1,650 shares, amounting to an investment of ₹2,11,200. Big Non-Institutional Investors (bNII) can place bids for 72 lots or 7,920 shares, amounting to an investment of ₹10,13,760.

Arkade Developers IPO date

Arkade Developers' IPO subscription will close on September 19. The share allotment status of Arkade Developers' IPO is likely to be finalised by September 20. After the share allotment status of Arkade Developers' IPO is finalised, refunds will be initiated for unsuccessful bidders on September 23.

Successful bidders will receive shares in their demat accounts on the same day. Shares of Arkade Developers will be listed on the NSE and BSE. The tentative listing date for Arkade Developers shares is September 24.

Arkade Developers' key financials

Arkade Developers’s revenue increased nearly 184% to ₹635.71 crore in the fiscal year ended March 31, 2024, from ₹224.01 crore in the preceding year. The company’s profit after tax surged over 141% to ₹122.81 crore in FY24 compared to ₹50.77 crore in FY23. The real estate developer’s net worth for FY24 grew over 61% to ₹323.4 crore compared to ₹200.32 crore in FY23.

Arkade Developers promoters

Amit Mangilal Jain is the promoter of Arkade Developers. Before the issue, Amit Mangilal Jain held an 85.58% stake in the company.

Arkade Developers IPO registrar

Arkade Developers IPO registrar is Bigshare Services Pvt Ltd, and the book-running lead manager for the issue is Unistone Capital Pvt Ltd.

Arkade Developers IPO objectives

Arkade Developers plans to use the proceeds of its public issue to develop its ongoing projects, such as Arkade Nest, Prachi CHSL, and C-Unit and to acquire yet-to-be-identified land for real estate projects. A portion of the proceeds will also be used for general corporate purposes.

About Arkade Developers

Arkade Developers Limited is a real estate development company based in Mumbai, Maharashtra. The company constructs new buildings and redevelops existing buildings. The company has developed 2.2 million square feet of residential properties as of June 30, 2024.