Arkade Developers IPO subscribed 13 times on Day 2

17 Sep 2024 , 02:57 PM

Arkade Developers’ ₹410 crore IPO received over six times the number of subscriptions on its first day. The company raised approximately ₹122.40 crore from anchor investors ahead of its IPO. The company awarded 95.62 lakh equity shares to nine anchor investors at a price of ₹128 per share, with a face value of ₹10.

Until 2:52 p.m. on day two, the issue had been subscribed 13.17 times, the retail component of the public issue had been booked 17.06 times, and the NII segment had been subscribed 21.11 times. The portion designated for the QIB was subscribed 31%.

The IPO is entirely focused on book-building. The IPO’s price band is defined between Rs 121 and Rs 128 per share. The deadline for subscriptions is September 19, 2024.

Following the IPO, the business is expected to carry the basis of allotment on September 20, followed by the beginning of refunds and the credit of shares to the demat account on September 23. The listing is most likely to occur on Tuesday, September 24, 2024.

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