Arkade Developers IPO Allotment Finalized Today: Latest GMP and How to Check Your Allotment Status
the allotment of shares for the Arkade Developers IPO was finalized, marking a significant moment for investors. The IPO opened for subscription from September 16 to September 19, 2024, and received an overwhelming response from the market. It was oversubscribed by an impressive 106.83 times, with strong participation from both institutional and retail investors.
Main Points
- 1 Full Details of Arkade Developers IPO
- 2 Subscription Breakdown
- 3 Grey Market Premium (GMP)
- 4 Listing Date
- 5 How to Check Your Allotment Status Online
- 6 Checking Allotment Status on BSE
- 7 Checking Allotment Status on Bigshare Services
- 8 What’s Next for Arkade Developers?
- 9 Company Overview
- 10 Market Sentiment and Future Outlook
Full Details of Arkade Developers IPO
Arkade Developers, a prominent real estate development company based in Mumbai, aimed to raise approximately ₹410 crore through this initial public offering (IPO). The price band for the shares was set between ₹121 and ₹128 per equity share. The company offered a total of 3.2 crore shares, which were entirely fresh issues with no offer-for-sale component.
Subscription Breakdown
The subscription details reveal a robust interest in Arkade Developers:
- Qualified Institutional Buyers (QIBs): Subscribed 163.16 times
- Non-Institutional Investors (NIIs): Subscribed 163.02 times
- Retail Individual Investors (RIIs): Subscribed 51.39 times
This high level of interest indicates strong confidence in the company’s future prospects.
Grey Market Premium (GMP)
As of today, Arkade Developers shares are trading at a grey market premium (GMP) of approximately ₹60, suggesting a potential listing price around ₹188 on both the BSE and NSE. This indicates a potential return of about 17% for investors who successfully receive shares in the allotment. The GMP reflects the market’s optimistic outlook on the company’s performance post-listing.
Listing Date
The shares of Arkade Developers are expected to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 24, 2024. This listing will provide investors with an opportunity to trade their shares publicly for the first time.
How to Check Your Allotment Status Online
Investors who participated in the IPO can check their allotment status through several platforms. Here’s how you can do it:
Checking Allotment Status on BSE
- Visit the BSE website.
- Navigate to the ‘Investors’ section.
- Click on ‘Status of Issue Application.’
- Select ‘Application Status Check.’
- Choose ‘Equity’ as the issue type.
- Select ‘Arkade Developers Limited’ from the dropdown menu.
- Enter your application number and PAN number.
- Click on ‘Search’ to view your allotment status.
- Go to the Bigshare Services website.
- Select ‘Arkade Developers IPO’ from the dropdown menu.
- Enter your PAN details or application number.
- Click ‘Search’ to see your allotment status.
These steps will help you quickly find out if you have been allotted shares in this much-anticipated IPO.
What’s Next for Arkade Developers?
The proceeds from this IPO will be utilized for several strategic purposes, including:
- Development of ongoing projects
- Funding upcoming real estate ventures
- General corporate purposes
Arkade Developers has established itself as a key player in Mumbai’s real estate market, focusing on high-end residential properties that cater to aspirational lifestyles.
Company Overview
Founded with a vision to create premium living spaces, Arkade Developers has made significant strides in Mumbai’s competitive real estate landscape. They have developed over 2 million square feet of residential properties and continue to expand their portfolio with innovative projects that emphasize quality and sustainability.
In FY24, Arkade Developers reported a remarkable revenue increase of 189%, reaching ₹635 crore, while net profit more than doubled to ₹123 crore compared to previous years. Their commitment to delivering high-quality projects on time has earned them a solid reputation among investors and homebuyers alike.
Market Sentiment and Future Outlook
The strong subscription rates and positive GMP indicate that market sentiment towards Arkade Developers remains bullish. Analysts suggest that investors should consider holding onto their shares post-listing due to the company’s growth potential and strategic positioning in Mumbai’s real estate sector.
In summary, today’s finalization of Arkade Developers’ IPO allotment marks an exciting opportunity for investors looking to enter the booming real estate market in India. With substantial backing from institutional investors and a robust business model, Arkade Developers is poised for continued success in the coming years.
