NED28/0 (4/50 ov, target 183)
OMA182
MS-W
PS-W124/9 (20 ov)
SAS
FIO
ATA
PAR
LOR
BRE
NEW
EVE
DEP
OSA
WI-A
LIONS
Galatasaray
Stuttgart
Shakhtar
Sporting
Athletic2
Real Sociedad1
Juventus2
Napoli0
Marseille2
Toulouse0
Elche0
Valencia1
KAY180/6
KAG67/2 (9.1/20 ov, target 181)
NZ-A424
IND-A346 & 32/0 (11 ov)
QLD280
VIC307 & 136/6 (66 ov)
SYL218 & 89/2 (38 ov)
CHATT210
MYMS108 & 57/2 (14 ov) (f/o)
KHU288
DHA
BAR
RAN122/3 (39 ov)
RAJ231
ASSAM135
KNTKA89/0 (16 ov)
MEGHA
NAGA244/8 (67 ov)
TPURA173/7 (62 ov)
SAU
CHR
SPR
TOK
MOW
BIK
JAB
LUL
POA
DOLPH
WPR
CD
AUCK
OTAGO
CANT
AFG81/3 (8.1/20 ov, target 80)
ZIM79
NAM131/5 (21.2/50 ov, target 130)
IRE129
NZ195/3 (18/20 ov, target 192)
IND191/8
SS-W196/8
HH-W109 (17.4/20 ov, target 197)
ST-W180/4 (16.4/20 ov, target 179)
BH-W178/5
Atlético
Bayern
Lecce1
Genoa2
Liverpool0
Arsenal1
Arkade Developers Ltd, a prominent real estate company, is set to launch its Initial Public Offering (IPO) to raise ₹410 crore. The IPO opens for public subscription on September 16 and closes on September 19, with a price band set between ₹121-128 per share.
Latest updates on Arkade Developers IPO Day 1, including GMP, subscription status, key dates, expert review, and whether you should apply
Arkade Developers IPO: Key Details
- IPO Size: ₹410 crore
- Price Range: ₹121-128 per share
- Lot Size: 65 shares (and in multiples of 65 shares)
- Reservation:
- 50% for Qualified Institutional Buyers (QIBs)
- 15% for Non-Institutional Investors (NIIs)
- 35% for Retail Investors
- Employees are allocated shares worth up to ₹2 crore with a ₹5 discount per share.
Company Overview
Arkade Developers Ltd is a rapidly growing real estate firm with a strong presence in Mumbai. By July 31, 2023, the company has successfully developed 1.80 million square feet of residential properties, including projects through partnerships where Arkade holds a majority stake.
From 2017 to Q1 2023, Arkade has launched 1,040 residential units and sold 792 units across the Mumbai Metropolitan Region (MMR) in Maharashtra, showcasing its robust market presence.
Financials
The company has seen fluctuating revenues over the past three years:
- 2023: ₹224.01 crore
- 2022: ₹237.18 crore
- 2021: ₹113.18 crore
Peer Comparison
According to the red herring prospectus (RHP), Arkade Developers competes with several established real estate firms:
- Keystone Realtors Ltd: P/E ratio of 74.85
- Godrej Properties Ltd: P/E ratio of 111.53
- Macrotech Developers Ltd: P/E ratio of 78.46
- Suraj Estate Developers Ltd: P/E ratio of 40.92
GMP and Subscription Status
Ahead of its IPO, Arkade Developers raised ₹122.40 crore from anchor investors, signaling positive market sentiment. The Grey Market Premium (GMP) for Arkade Developers is yet to see significant fluctuations, but early indications suggest steady demand.
Should You Apply?
With a solid presence in Mumbai’s real estate sector, Arkade Developers offers potential growth backed by its consistent sales and expansion strategy. However, considering the competitive P/E ratios of its peers, investors should weigh both market risks and the company’s future growth trajectory before applying.
If you’re interested in Arkade Developers IPO, the subscription window closes on September 19, and the shares are likely to list shortly after. Stay updated on the GMP and analyst reviews for better insight.
