Arkade Developers IPO subscribed 106.4 times on final day

Arkade Developers IPO: The Rs 410-crore initial share sale got bids for 2,52,97,38,200 stocks against 2,37,75,719 shares on offer, according to data known with the NSE.

The initial public offering (IPO) of Arkade Developers saw a remarkable response, being subscribed 106.40 times on the final day of the offer, September 19.

The Rs 410-crore IPO received bids for 2.53 billion shares against the 237.75 million shares on offer, according to data from the National Stock Exchange (NSE).

Breakdown of Subscription

• Qualified Institutional Buyers (QIBs): The QIB portion was oversubscribed by a staggering 163.16 times, showing strong demand from institutional investors.
• Non-Institutional Investors (NIIs): This segment received 162.75 times subscription.
• Retail Individual Investors (RIIs): Retail investors showed significant interest as well, with their portion being subscribed 50.65 times.

Early Momentum and Anchor Investment

The IPO had already garnered attention on the first day, fully subscribing and ending the day with 5.79 times overall subscription. Arkade Developers also raised Rs 122.40 crore from anchor investors ahead of the IPO.

Price Band and Fund Allocation

The company set a price band of Rs 121-128 per share for the Rs 410-crore offering, which is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component. The funds raised will be utilized for:

• Ongoing and future real estate projects
• Acquisition of new real estate projects
• General corporate purposes

Arkade Developers’ Market Presence

Arkade Developers is a fast-growing real estate company with a significant footprint in Mumbai. The strong subscription figures reflect high investor confidence in the company’s growth potential in the real estate sector.