Arkade Developers IPO: Seeing a profit of ₹85 per share, people are investing heavily

New Delhi. Arcade Developers’ IPO, which opened this week, is getting strong investor support. The issue was fully subscribed on the first day i.e. 16th September and continues to receive good response. Today is the last day to invest in IPO. As of 10:40 AM today i.e. September 19, the Arcade IPO was oversubscribed by 35.78 times. The portion reserved for retail investors was quoted 37.41 times, the NII segment 78.79 times and the reserve portion for QIB 0.74 times. Also in the gray market, unlisted shares of the Arcade IPO are trading at a premium of 66 percent. Brokerage firm Choice Broking has suggested ‘subscribing’ to the issue.

Arcade Developers Limited is looking to raise a total of ₹ 410 crore from the market through this IPO. For this, the company is issuing 32,031,250 fresh shares worth ₹ 410 crore. There is no offer for sale in the Arcade IPO. This means that the company’s existing investors are not selling their shares.

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The price band is ₹121-₹128.
The price band of the Arcade Developers IPO has been set at ₹121-₹128. Retail investors can bid for one lot i.e. 110 shares. According to the upper price band, you have to invest ₹ 14,080 for one lot. At a time, retail investors can apply for a maximum of 14 lots ie 1540 shares. For this, investors have to invest Rs 197,120 as per the upper price band of Rs 128.

Arcade Developers IPO GMP
Arcade developers’ IPO share listing is getting a good response in the gray market. According to IPOwatch.in, a gray market tracking website, Arcade Share’s GMP has reached a premium of ₹85 per share. In such a scenario, it may be listed at ₹ 213, as per the upper price band of ₹ 128. However, this is only an estimate, the list price of the shares may differ from the gray market price.

Company profile
Arcade Developers Limited is a real estate development company. As of July 31, 2023, the company has built over 1.8 million square feet of homes. This also includes projects that they have done in collaboration with other companies. From 2017 to the first quarter of 2023, the company launched more than 1040 homes and sold 792 homes in Mumbai and surrounding areas.

(Disclaimer: Investing in IPOs is subject to market risks. If you want to invest in any of them, consult with a certified investment advisor first. News 18 Your profit or loss will not be responsible.)

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