Here are 10 things you should know about the Arkade Developers IPO before subscribing to the broadcast.
1) What is the business overview of Arkade Developers?
Arkade Developers is a leading real estate development company with a significant presence in Mumbai. Its operations are focused on developing premium aspirational lifestyle residential properties in the region. As of July 31, 2023, it has developed 1.80 million square feet of residential properties (including through associate entities in which Arkade holds majority stake).
2) What is the industry overview of Arkade Developers?
Mumbai is one of the largest and most expensive real estate markets in India. It has several micro markets in Mumbai city, suburbs, extended suburbs and neighbouring areas like Thane and Navi Mumbai. Between 2017 and 2019, the real estate market in MMR witnessed gradual growth in both supply and absorption of housing units, with absorption figures outpacing new residential supply.
3) What is the current GMP of Arkade Developers?
According to market analysts, the current GMP of Arkade Developers is Rs 191, indicating a 49% premium over the issue.
4) What is the size of Arkade Developers’ IPO?
The IPO is a greenfield issue of up to Rs 3.23 crore shares and through the issue, the company plans to raise Rs 410 crore.
5) What is the price range for Arkade Developers IPO?
The company has set a price range of Rs 121-128 for the public offer, where investors can bid for 110 shares in one lot.
6) What is the structure of Arkade Developers IPO?
Approximately 50% of the public offering is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
7) How is the financial performance of Arkade Developers?
Arkade Developers’ revenue in FY24 rose 189% year-on-year to Rs 635 crore, while net profit also doubled to Rs 123 crore in the same period.
8) What are the objectives of Arkade Developers’ IPO?
The Company intends to use the net proceeds for the development of its current and future projects, as well as to finance the acquisition of future real estate projects and general corporate purposes.
9) Who are the lead managers of the book running Arkade Developers’ IPO?
Unistone Capital is the sole book-running lead manager (BRLM) of the issue.
10) When is the date of allocation of shares and IPO listing of Arkade Developers?
The allotment of shares for the IPO is likely to be finalized on September 20 and the company is anticipated to be listed on the stock exchanges on September 24.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.