Arkade Developers Limited IPO Opens On September 16. Check IPO Details Issue Date Price

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Arkade Developers Limited IPO Opens On September 16. Check IPO Details Issue Date Price

September 17, 2024
Arkade Developers Limited IPO Opens On September 16. Check IPO Details Issue Date Price

Arkade Developers Limited is coming out with an initial public offer to raise Rs. 410 crores from the market.

Below are the details of the Arkade Developers Limited IPO:

  • Issue opens – September 16 (Monday)
  • Issue closes – September 19 (Thursday)
  • Issue size – Rs. 410 crores
  • Price band – Rs. 121 to 128 per equity share
  • Bid lot – 110 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Established on May 13, 1986, Arkade Developers is a real estate development Company concentrating on the development of premium aspirational lifestyle residential premises in Mumbai, Maharashtra, India’s commercial capital. Their business can broadly be classified into 2 categories: i} Development / construction of residential premises on land acquired by Arkade (New Projects),ii)- Redevelopment of existing premises (Redevelopment Projects).
  • As on June 30, 2024, they have developed 2.20 msf of residential property (including through partnership entities in which Arkade holds the majority stake).
  • They are engaged in the development of new projects and redevelopment of existing premises, and between 2017 and Q1 2024, they have launched 1,220 residential units and sold 1,045 residential units in different markets in MMR, Maharashtra (“MMR”).
  • In total, the Arkade Group has successfully undertaken 17 new development projects (from 2003 to March 2024) within the Mumbai city: 14 in the Mumbai Western-Suburbs, 2 in the South-central Mumbai and 1 in the Mumbai Eastern-Suburbs. These projects, amounting to a combined constructed area of 36.3 lakh sq.ft, were completed, and delivered on time.
  • Similarly, the Arkade Group has successfully undertaken 10 redevelopment projects (from 2003 to March 2024) within the Mumbai city: 9 in the Mumbai Western-Suburbs and 1 in the South-central Mumbai. These projects, amounting to a combined constructed area of 6.43 lakh square feet, were effectively completed, and delivered on time.
  • Company’s current portfolio of Ongoing Projects includes gated communities such as Arkade Nest, Arkade Aspire, Arkade Prime and Arkade Aura. In the last 2 decades they have completed 28 projects, 8 projects executed by the Promoter through his proprietorship, Arkade Creations, and 9 projects through joint development arrangements with other third parties aggregating more than 4.5 msf of development and have catered to more than approximately 4,000 customers.
  • As of June 30, 2024, out of 6 projects that are currently under-development 3 are New Projects and 3 are Redevelopment Projects constituting 50% each of their under-development projects

Issue Size : Rs. 410 Cr

Employee Reservation: Rs. 2 crores

Employee Discount: Rs. 5 / per share

Issue break-up :

QIB – 50 % of the offer – Rs. 204.00 Cr.
NIB – 15 % of the offer – Rs. 61.20 Cr.
RET – 35 % of the offer – Rs. 142.80 Cr.

Listing : BSE & NSE

Registrar : Bigshare Services Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Thursday, September 19th, 2024.

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