Upcoming IPO: Arkade Developers IPO to hit the D-Street on Sept 16; price band set at ₹121-128 per share

  • Upcoming IPO: Arkade Developers IPO to hit the D-Street on Sept 16; price band set at 121-128 per share

Dhanya Nagasundaram
Published10 Sep 2024, 11:37 AM IST
Arkade Developers IPO price band: The Arkade Developers Limited IPO price band has been fixed in the range of  <span class='webrupee'>₹</span>121 to  <span class='webrupee'>₹</span>128 per equity share of the face value of  <span class='webrupee'>₹</span>10.
Arkade Developers IPO price band: The Arkade Developers Limited IPO price band has been fixed in the range of ₹121 to ₹128 per equity share of the face value of ₹10. (https://arkadevistas.com/)

Arkade Developers IPO price band: The Arkade Developers Limited IPO price band has been fixed in the range of 121 to 128 per equity share of the face value of 10. The Arkade Developers IPO date of subscription is scheduled for Monday, September 16, and will close on Thursday, September 19. The allocation to anchor investors for the Arkade Developers IPO is scheduled to take place on Friday, September 13.

The issue's lot size is 65 equity shares and in multiples of 65 equity shares thereafter. Arkade Developers IPO has reserved 50% of the shares in the public issue for qualified institutional buyers (QIB), 15% for non-institutional Institutional Investors (NII), and 35% of the offer is reserved for retail investors. The employees have been allocated equity shares worth up to 2 crores, and they are being given a discount of 5 per share.

Also Read | Arkade Developers gets green signal from SEBI to launch its proposed IPO

Tentatively, Arkade Developers IPO basis of allotment of shares will be finalised on Friday, September 20, and the company will initiate refunds on Monday, September 23, while the shares will be credited to the demat account of allottees on the same day following refund. Arkade Developers share price is likely to be listed on BSE and NSE on Tuesday, September 24.

In Mumbai, Maharashtra, the commercial hub of India, the firm specializes in the building of high-end, aspirational lifestyle residential properties. The company's operations may be roughly divided into two groups: (i) new projects, which include developing and building residential buildings on land that the company has bought; and (ii) rehabilitation projects, which involve renovating existing buildings. 2.20 million square feet of residential property have been developed by us as of June 30, 2024 (including through partnership organisations in which we have the majority share).

As of June 30, 2024, there are 6 projects in MMR, Maharashtra that are included in the company's upcoming projects. Furthermore, by June 30, 2024, they have been granted a letter of intent for 2 redevelopment projects, but a contract has not been finalised yet.

During the financial year ending on March 31, 2024, Arkade Developers Limited experienced a 184% increase in revenue and a 142% rise in profit after tax (PAT) compared to the financial year ending on March 31, 2023.

As per the red herring prospectus (RHP), the company's listed peers are Keystone Realtors Ltd (with a P/E of 74.85), Godrej Properties Ltd (with a P/E of 111.53), Macrotech Developers Ltd (with a P/E of 78.46), Suraj Estate Developers Ltd (with a P/E of 40.92).

Also Read | Arkade Developers files DRHP with SEBI for ₹430 crore IPO

Arkade Developers IPO details

The Arkade Developers IPO, worth 410 crore, includes a fresh issuance of 32,031,250 equity shares with a face value of 10. There is no "offer for sale" component.

As per the RHP, the company, in consultation with the book running lead manager (BRLM), has carried out a Pre-IPO Placement of 1,626,016 equity shares at a price of 123 per Equity Share (inclusive of a premium of 113 per Equity Share) amounting to 20 crore (Pre-IPO Placement). Due to the Pre-IPO Placement, the size of the fresh issue of up to 430 crore has been decreased by 20 crore, resulting in the revised size of the Fresh Issue being up to 410 crore.

The Arkade Developers IPO is being managed by Unistone Capital Pvt Ltd as the book running lead manager, with Bigshare Services Pvt Ltd acting as the registrar for the issue.

Also Read | Western Carriers (India) IPO announces price band at ₹163-172 apiece

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:10 Sep 2024, 11:37 AM IST
Business NewsMarketsIPOUpcoming IPO: Arkade Developers IPO to hit the D-Street on Sept 16; price band set at ₹121-128 per share

Most Active Stocks

Tata Steel share price

155.65
03:58 PM | 15 OCT 2024
-2.65 (-1.67%)

Tata Power share price

463.50
03:58 PM | 15 OCT 2024
1.15 (0.25%)

Indian Oil Corporation share price

167.85
03:59 PM | 15 OCT 2024
2.45 (1.48%)

Federal Bank share price

198.55
03:48 PM | 15 OCT 2024
1.55 (0.79%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

HCL Technologies share price

1,870.05
03:59 PM | 15 OCT 2024
14.05 (0.76%)

Lloyds Metals & Energy share price

999.00
03:29 PM | 15 OCT 2024
0.75 (0.08%)

Infosys share price

1,957.20
03:29 PM | 15 OCT 2024
-1.5 (-0.08%)

Divis Laboratories share price

6,110.00
03:29 PM | 15 OCT 2024
-102.85 (-1.66%)
More from 52 Week High

Godrej Industries share price

1,045.25
03:29 PM | 15 OCT 2024
-56.15 (-5.1%)

Oil India share price

559.30
03:56 PM | 15 OCT 2024
-26.8 (-4.57%)

HDFC Life Insurance Company share price

714.40
03:58 PM | 15 OCT 2024
-26.25 (-3.54%)

National Aluminium Company share price

218.85
03:52 PM | 15 OCT 2024
-7.65 (-3.38%)
More from Top Losers

Five Star Business Finance share price

894.45
03:59 PM | 15 OCT 2024
70.65 (8.58%)

Aegis Logis share price

727.80
03:56 PM | 15 OCT 2024
51.15 (7.56%)

Sunteck Realty share price

595.85
03:50 PM | 15 OCT 2024
41.75 (7.53%)

FDC share price

568.70
03:29 PM | 15 OCT 2024
35.15 (6.59%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    77,625.00-50.00
    Chennai
    77,631.00-50.00
    Delhi
    77,783.00-50.00
    Kolkata
    77,635.00-50.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts