Arkade Developers IPO listing is scheduled for tomorrow, Tuesday, September 24, 2024. The IPO allotment was finalized on Friday, September 20, 2024. For those who have been allocated shares, the shares will be credited to their demat accounts today, Monday, September 23. Additionally, the refund process for those who did not receive shares will also be completed today. Here’s what you need to know about the Arkade Developers IPO listing tomorrow.
Arkade Developers IPO Listing Tomorrow
On the final day of subscription, Thursday, September 19, Arkade Developers IPO received a strong 106.83 times the number of subscriptions, according to BSE data. The qualified institutional buyer (QIB) segment was oversubscribed 163.16 times, while the non-institutional investor quota saw 163.02 times subscriptions. The retail individual investor (RII) quota was oversubscribed 51.39 times, and the employee quota received 50.49 times subscriptions. The IPO, which opened on Monday, September 16, had a price band set between INR 121 – 128 per share.
In the Arkade Developers IPO, 15% of the shares are allocated for non-institutional investors (NII), 35% are designated for retail investors, and 50% are reserved for qualified institutional buyers (QIB). Additionally, shares are reserved for employees, who are also being offered nearly a 4% discount.
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Arkade Developers IPO GMP
Investors are also considering the market opportunity and the unique premium of the Indian manufacturer specializing in high-end residential developments company about to enter the market. Consequently, there is a significant grey market premium (GMP), offering a profit potential. Let’s examine what the GMP for Arkade Developers IPO has indicated in the last few days ahead of its listing.
Over the past ten days (12 – 23 Sept), the average grey market premium (GMP) for Arkade Developers IPO was INR 67 per share, with today’s GMP being at INR 65 per share, according to IPOCentral’s GMP tracker. Accordingly, the anticipated listing price for Arkade Developers IPO is pegged at INR 193 per share. This figure represents a potential profit of 50.8% from the IPO price of INR 128 per share, factoring in the upper limit of the IPO pricing range and the current premium observed in the grey market.
The term “Grey market premium” signifies the willingness of investors to pay a price higher than the initial offering price. While trading in this parallel market is not recognized by stock exchanges, the grey market has worked reasonably well to anticipate listing prices. Most recently, shares of Bajaj Housing Finance and PN Gadgil Jewellers had strong starts on their stock market debuts, as indicated by the grey market.
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Arkade Developers IPO Details
Arkade Developers IPO subscription commenced on September 16, 2024, and concluded on September 19, 2024. The company aims to raise INR 410 crores through a fresh equity sale, with shares priced between INR 121 and INR 128 each, and a minimum bid of 110 shares per lot, with a minimum application amount of INR 14,080.
Arkade Developers, a prominent player in the luxury residential sector of the Mumbai Metropolitan Region, has completed 28 projects over the last 20 years, covering more than 4.5 million square feet. For FY 2024, the company posted impressive financial results, with revenue reaching INR 635 crore and net profit hitting INR 123 crore marking a substantial leap from previous years. The funds raised through the IPO are earmarked to fuel ongoing projects and strategically acquire land for future ventures.
Between 2017 and Q1 2024, Arkade launched 1,220 residential units and successfully sold 1,045 units across various markets within the Mumbai Metropolitan Region (MMR). Arkade Developers is developing approximately 3.7 million square feet across 6 ongoing projects.
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Arkade Developers IPO Listing FAQs
What are Arkade Developers IPO dates?
Arkade Developers IPO subscription commenced on September 16, 2024, and concluded on September 19, 2024.
When is the Arkade Developers IPO listing expected?
Arkade Developers IPO listing date is Tuesday, September 24, 2024.
Can we buy an IPO on the listing date?
You can place a buy order at a desired price for the IPO shares on the listing day after 10 AM.
