Arkade Developers IPO GMP 2024 Live Updates: Subscription Status, GMP Live Updates, Allotment Status, Listing Date and Time
Arkade Developers, a real estate development firm specializing in high-end residential projects in Mumbai, has launched an initial public offering (IPO) valued at Rs 410 crores. The IPO consists of a fresh issue of 3.2 crore shares, with a price band set between Rs 121 and Rs 128 per share. The bidding period for the IPO ran from September 16 to September 19, 2024, and the allotment was finalized on September 20, 2024.
The IPO has garnered significant interest from investors, with qualified institutional buyers subscribing at a rate of 163.16 times, non-institutional investors at 162.75 times, and retail individual investors at 50.65 times. The funds raised from the IPO will be used for developing ongoing and upcoming projects, acquiring future real estate opportunities, and covering general corporate expenses.
Shares from the Arkade Developers IPO are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on a tentative listing date of September 24, 2024. Retail investors must apply for a minimum lot size of 110 shares, requiring an investment of Rs 14,080. Unistone Capital Pvt Ltd is serving as the book-running lead manager for the IPO, with Bigshare Services Pvt Ltd acting as the registrar.
Investors are eagerly awaiting further announcements regarding the exact listing date, as it marks an important milestone for the company following its public offering. Stay tuned for more updates on Arkade Developers IPO 2024.
