Arkade Developers IPO Listing: All You Need to Know
Arkade Developers has set the stage for an exciting debut as its IPO listing approaches. Slated for September 24, 2024, the company’s public offering has garnered significant attention from investors. The IPO was subscribed a remarkable 106.40 times during the offered period from September 16 to 19, highlighting a surge in investor interest. With an issue size of Rs 410 crore, Arkade Developers has already secured Rs 122.40 crore from anchor investors, indicating robust demand.
Expert Insights on Arkade Developers’ IPO
Market experts are optimistic about the upcoming listing, attributing the favorable response to Arkade Developers’ competitive valuation and strong fundamentals. Shivani Nyati, Head of Wealth at Swastika Investmart Limited, commented, “The valuation of this IPO appears fair and attractive. With strong fundamentals and strategic positioning, Arkade Developers is poised for a successful listing and potential long-term growth.”
Sagar Shetty, a Research Analyst at Stoxbox, also echoed positive sentiments, predicting that the company is expected to debut with a significant premium of approximately 66% over its upper price band. Such projections suggest investor confidence in the stock’s future performance.
Latest Grey Market Premium (GMP)
A day before the listing, Arkade Developers shares are trading at a premium of Rs 63 in the grey market. This activity suggests that the company’s shares might hit the market at a price of around Rs 191. If this forecast holds true, investors could see a whopping profit of 49.22%. However, it’s essential to remain cautious, as grey market conditions fluctuate and may not always reflect actual market performance.
Utilization of IPO Funds
The capital raised from this IPO will primarily be utilized for the development of ongoing and future real estate projects. In addition, Arkade Developers plans to allocate part of the funds for acquisitions of new projects and general corporate expenses, ensuring a well-rounded approach to growth and expansion.
About Arkade Developers
Arkade Developers Limited is a burgeoning force in the Mumbai real estate sector, having established a robust presence in the market. As of July 31, 2023, the company has successfully developed 1.80 million square feet of residential space. Between 2017 and the first quarter of FY 2023, Arkade Developers launched 1,040 residential units in the Mumbai Metropolitan Region (MMR) and recorded sales for 792 of these units. This track record showcases the firm’s commitment to delivering quality housing solutions in a competitive environment.
Anticipations and Conclusion
The upcoming IPO listing of Arkade Developers is stirring a buzz in the investment community. With high subscription rates and strong expert endorsements, the company seems well-positioned for a successful entry into the stock market. Investors are closely watching the market dynamics as they prepare for the debut on September 24. As always, potential investors should conduct their own research and consider their risk tolerance before making investment decisions.
