Arkade Developer IPO: Arkade Developer's IPO is going to open for subscription on September 16. The company intends to raise Rs 410 crore through the issue. Investors will have the opportunity to invest in it till September 19. The price band for the issue has been fixed at Rs 121-128 per share. Only 3.20 crore fresh equity shares will be issued under this IPO, which means that the entire proceeds from the IPO will go to the company. The company's shares will be listed on BSE, NSE.

Where will Arkade Developer use the funds

The funds raised through this IPO will be invested in the development of existing and upcoming real estate ventures. Apart from this, the company will also use the funds for the acquisition of future projects and general corporate purposes. The book-running lead manager of this IPO is Unistone Capital Private Limited and the registrar to the issue is Bigshare Services.

Arkade Developer IPO lot size

The minimum lot size for applying in this IPO is 110 shares, and retail investors are required to invest at least ₹ 14,080. According to DRHP, Amit Mangilal Jain is the promoter of the company. Allotment of shares after subscription is expected to be done on September 20. At the same time, the possible date for listing of the company's shares has been fixed as September 24.

Latest GMP of Arkade Developer IPO

This IPO is getting a strong response from the grey market. A day before the issue opens, i.e. today, September 15, this IPO is trading at a premium of Rs 70 in the unlisted market. According to this, the company's shares are likely to be listed at a price of Rs 198. If this happens, investors will get a huge profit of about 55 percent.

About Arkade Developer

Arcade Developers Limited is an emerging real estate development company with a strong foothold in Mumbai. As of July 31, 2023, the firm has developed 1.80 million sq ft of residential space. From 2017 to the first quarter of FY 2023, Arcade launched 1040 residential units in the Mumbai Metropolitan Region (MMR) and sold 792 of them.