Arkade Developers IPO opens on Sept 16: Check price band, lot size and key details

Arkade Developers IPO, which will be live from September 16 to September 19, has fixed a price range of ₹121 to ₹128 per equity share for its ₹410 crore public issue.

The bidding for anchor investors will take place on September 13.

The IPO is solely a fresh issue of shares worth ₹410 crore. It does not include an offer-for-sale (OFS) component.

The money raised will be used to complete the company's ongoing and upcoming acquisitions and fund the acquisition of future real estate projects. A portion will also be used for general corporate purposes.

Unistone Capital is the sole book-running lead manager (BRLM) to the issue. The equity shares of the company are expected to be listed on the BSE and NSE on September 24.

Interested investors can apply for at least one lot, consisting of 110 shares and multiples thereof.

About Arkade Developers

Arkade Developers is a fast-growing real estate development company with a significant presence in Mumbai. As of July 31, 2023, it has developed 1.80 million square feet of residential property, including through partnership entities in which Arkade holds the majority stake.

Between 2017 and Q1 2023, the company launched 1,040 residential units and sold 792 residential units in different markets in the Mumbai Metropolitan Region (MMR) in Maharashtra.

Arkade Developers' revenue in fiscal 2023, fiscal 2022 and fiscal 2021 stood at ₹224.01 crore, ₹237.18 crore and ₹113.18 crore, respectively.