Arkade Developers, Northern Arc Capital and Western Carriers to make market debut on Sept 24; check key details

The week starting September 23 is expected to be extremely busy for the primary market, with hectic listing activity. As many as 14 IPOs, including three mainboard issues, are scheduled for market debut between September 24 and September 27.

Shares of Western Carriers India, Arkade Developers and Northern Arc Capital will be listed on the NSE and BSE. As many as 11 SME IPOs will be listed on the BSE SME and NSE SME platforms.

Western Carriers IPO

The ₹492.88-crore initial public offering of Western Carriers India Limited consisted of a fresh issue of 2.33 crore shares, aggregating to ₹400 crore, and an offer-for-sale (OFS) of 54 lakh shares, amounting to ₹92.88 crore. Western Carriers IPO price band was fixed at ₹163 to ₹172 per share. The minimum lot size for retail investors was fixed at 87 shares, which aggregated to an investment of ₹14,964.

The subscription window for Western Carriers IPO was open from September 13 to September 19. Western Carriers IPO share allotment status was finalised on September 20.

Western Carriers IPO was subscribed 30.57 times overall. The non-institutional investors’ (NII) quota was booked 44.71 times. The retail portion was oversubscribed nearly 25.95 times, while the qualified institutional buyers’ segment was booked 27.99 times.

The company plans to use the issue proceeds to prepay a portion of its borrowings. The proceeds will also be used to purchase commercial vehicles, 40-foot specialised containers, 20-foot normal shipping containers, and reach stackers. A portion of the funds will also be used for general corporate purposes.

Western Carriers (India) Limited was incorporated in March 2011. It is a multi-modal, rail-focused, 4PL asset-light logistics company that offers multi-modal logistics solutions and other value-added services.

Arkade Developers IPO

Arkade Developers Limited IPO, aimed at raising ₹410 crore, consists of an entirely fresh issuance of 3.2 crore shares. Arkade Developers IPO price band was set at ₹121 to ₹128 per share. The minimum lot size for retail investors was fixed at 110 shares, aggregating to an investment of ₹14,080.

Arkade Developers IPO subscription window opened on September 16 and closed on September 19. The share allotment status of Arkade Developers IPO was finalised on Friday, September 20.

Arkade Developers IPO was booked 106.83 times during its bidding period. The non-institutional investors’ (NIIs) quota was booked 163.02 times. Retail investors’ quota was oversubscribed nearly 51.39 times, while the qualified institutional buyers’ segment was booked 163.16 times. The mainboard issue was booked 50.49 times in the employee category.

The company plans to use the proceeds of the public issue to fund costs incurred in developing its ongoing projects and to acquire yet-to-be-identified land for real estate projects and general corporate purposes.

The company plans to use the proceeds of the public issue to fund costs incurred in developing its ongoing projects and to acquire yet-to-be-identified land for real estate projects and general corporate purposes.

Northern Arc Capital IPO

Northern Arc Capital IPO (Northern Arc Capital Limited IPO) was worth ₹777 crore and consisted of a fresh issue of 1.9 crore shares aimed at raising ₹500 crore and an OFS portion of 1.05 crore shares aggregating to ₹277 crore. Northern Arc Capital IPO price band was set at ₹249 to ₹263 per share. The minimum lot size for retail investors was fixed at 57 shares, amounting to an investment of ₹14,991.

Northern Arc Capital IPO’s subscription window was open from September 16 to September 19. The share allotment status was finalised on Friday, September 20.

Northern Arc Capital IPO was booked over 110.91 times across all investor categories. The non-institutional investors (NII) quota was booked 142.41 times. Retail investors’ quota was oversubscribed nearly 31.08 times, while the qualified institutional buyers’ segment was booked 240.79 times. Employees of the company booked the issue 7.33 times.

The company plans to use the proceeds of the public issue to meet future capital requirements toward onward lending.

Northern Arc Capital Limited was founded in 2009. The company offers retail loans to underserved households and businesses in India. As of March 31, 2024, it had facilitated over ₹1.73 trillion worth of financing, covering over 101.82 million people across India.