The distribution was made among 9 investors according to the company’s presentation to the stock exchanges. The most important share was captured by BNP Paribas Financial Markets ODI with 20.43%. This was followed by Intuitive Alpha Investment Fund PCC-Cell 1, Saint Capital Fund and Stern Global Fund VCC-Stern Multi Strategy Fund, each with a 16.34% share of the total quotation.
Societe Generale held 8.17%, while Gagandeep Credit Capital Private Limited, Rajasthan Global Securities Private Limited, NAV Capital VCC and Visionary Value Fund were among the other investors who picked up shares in the company.
About Arkade Developers
Arkade Developers is a leading company real estate development A company with a significant presence in Mumbai, its operations focus on developing luxury homes with an aspirational lifestyle in the region.As of July 31, 2023, they have developed 1.80 million square feet of residential property (including through partnership entities in which Arkade holds a majority interest).
They are also dedicated to the development of new projects and the remodeling of existing premises, and between 2017 and the first quarter of 2023, they have launched 1,040 residential units and sold 792 residential units in different markets of the MMR.
From calendar year 2003 to March 2023, the company has successfully completed the redevelopment of 9 projects in the western suburbs of Mumbai and 1 project in south-central Mumbai (through a partner company in which Arkade holds majority stake) with a combined built-up area of 648,000 sq. ft.
While the company’s initial projects were stand-alone residential buildings, its current portfolio of ongoing projects includes gated communities such as Arkade Nest, Arkade Crown and Arkade Aspire, Arkade Prime and Arkade Aura.
About Arkade Developers IPO
The issue, which is a greenfield sale of shares for Rs 410 crore, will close on September 18. The price range has been fixed at Rs 121-128 per equity share.
In the public offering, approximately 50% is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Arkade Developers IPO Proceeds
The company intends to use the net proceeds for the development of its current and future projects and the acquisition of funds for the future. Real estate projects and general corporate purposes.
Arkade Developers Financial Data
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.
Lead managers of Arkade Developers IPO
Unistone Capital is the sole Book Running Lead Manager (BRLM) of the issue. The equity shares of the company will be listed on the BSE and NSE.
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