Arkade Developers IPO subscribed over 106 times, receives bid worth over ₹32,000 crore: Here’s how to check share allotment & more

Arkade Developers IPO share allotment status is expected to be finalised on Friday, September 20. The mainboard issue saw strong demand for the initial share sale on the last day of subscription on September 19.

Arkade Developers IPO received bids for more than 253.6 crore shares against 2.37 crore shares offered for bidding, resulting in an oversubscription of over 106 times. The mainboard issue was booked 162.5 times in the Non-Institutional Investors (NIIs) category, and the retail quota was booked 51 times. The Qualified Institutional Buyers booked their segment 163.16 times. The issue was booked over 50 times in the employees’ category.

Investors can check the share allotment status of Arkade Developers' IPO on the registrar's, BSE, and NSE websites.

Steps to check Arkade Developers IPO share allotment status on the NSE

• Go to the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Enter your username and password. Investors, who do not have an account on the NSE, will need to create a new login if they are not registered on the NSE website.
• Choose ‘Arkade Developers’ from the drop-down menu.
• Type in and verify your PAN.
• Enter your IPO application Number.
• Click submit and your allotment details will be shown on the screen

Alternatively, investors can also check the share allotment status of Arkade Developers IPO on the BSE website by using the application number and PAN details.

Here’s how to check Arkade Developers IPO share allotment status on registrar Bigshare Services website:

• Open the official website of Bigshare Services: https://ipo.bigshareonline.com/IPO_Status.html
• Go to the ‘Company Selection’ section and choose Arkade Developers. The name of the company will only appear once share allocation is finalised.
• In the ‘Selection Type’ dropdown, choose any of these—Application Number, Beneficiary ID, or PAN.
• Enter details.
• Complete the captcha verification.
• Click the ‘Search’ button to view your allotment status.

After finalising the share allotment status of Arkade Developers, refunds for non-allottees will be initiated on Monday, September 23. Shares of the company will be credited to the demat accounts of successful bidders on the same day. Arkade Developers Limited shares are likely to debut on the NSE and BSE on Tuesday, September 24.

Arkade Developers IPO objective

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

Arkade Developers IPO details

Arkade Developers aimed to raise ₹410 crore through an entirely fresh issue of 3.2 crore shares. Arkade Developers IPO price band was fixed at ₹121 to ₹128 per share. The minimum lot size to apply for Arkade Developers IPO was fixed at 110 shares, which aggregated to an investment of ₹14,080.

Arkade Developers Limited is a real estate development company. The realty firm is focused on high-end, luxury lifestyle residential projects in Mumbai.