Home Industry Real Estate The third day of Arkade Develo...
Real Estate
Business Fortune
19 September, 2024
The Retail Individual Investors (RIIs) portion received 33.26 subscriptions, while the non-institutional investor quota received 58.80 subscriptions.
The IOP subscription status for the component designated for Qualified Institutional Buyers (QIBs) was 61%. On Wednesday, the Arkade Developers IPO third day of the share sale was subscribed 29.42 times. According to NSE data, bids were received for 69, 94, 46,440 shares in the Rs 410-crore first share sale, while 2, 37, 75,719 shares were offered.
RIIs portion received 33.26 subscriptions, while the non-institutional investor quota received 58.80 subscriptions. The IOP subscription rate for the component designated for QIBs was 61%.
On Monday, the first day of the share sale, Arkade Developers Ltd.'s initial public offering was completely subscribed and concluded the following day with 5.79 times subscription. Anchor investors have contributed Rs 122.40 crore to real estate company Arkade Developers Ltd. The company's Rs 410-crore initial offering of shares (IPO) has a price range of Rs 121–128 per share. The first sale of shares will end on September 19. There is no offer-for-sale (OFS) element to the IPO; it is a wholly new issue of equity shares valued at Rs 410 crore.
The issue's proceeds will be utilized for general corporate objectives, funding the purchase of new real estate projects, and the advancement of the business's current and future initiatives. Mumbai is home to Arkade Developers, a rapidly expanding real estate development firm.
The manager of the offer is Unistone Capital Private Ltd.