The company will use proceeds from the IPO towards the development of company’s ongoing and upcoming projects.
The company's sustained financial growth and development ambitions have positioned it well in the market.
The price band for the issuance is ₹121 to ₹128 per share. Subscriptions for this issue began on Monday, September 16, and will end today.
Arkade Developers received Rs 122.4 crore from anchor investors before the subscription window opened. The IPO was completely subscribed on the first day of bidding.
The proceeds from the IPO will be used for funding ongoing projects, acquiring land for new real estate developments, and general corporate purposes.
The IPO is entirely focused on book-building. The IPO's price band is defined between Rs 121 and Rs 128 per share.
The stock is likely to be listed on Tuesday, September 24.
The IPO consists of a fresh issue of equity shares worth ₹410 Crore, with no offer-for-sale (OFS) component.
Arkade Developers Limited is a Mumbai, Maharashtra-based real estate development business that specialises in high-end, sophisticated lifestyle residential buildings.
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