Arkade Developers IPO subscribed 68.66 times on Day 4

19 Sep 2024 , 03:23 PM

Arkade Developers’ IPO subscription period concludes on Thursday, September 19. Retail and non-institutional investors (NIIs) have responded well to the ₹410 crore book-built issue, which opened for subscription on Monday, September 16. Before the IPO, the company raised around ₹122.40 from anchor investors.

The mainboard problem was fully subscribed on day one, September 16, and has received a good response. By 3:20 p.m. on day 4 on September 19, it had been subscribed 68.66 times, the retail portion of the public offering had been booked 45.37 times, and the NII segment had seen 129.65 times the subscriptions. The portion reserved for the QIB received 64.35 times the bids.

Arkade Developers IPO hopes to collect 410 crore through a fresh issue of 3.2 crore shares. The funds would be used to support ongoing projects, buy land for real estate developments, and conduct corporate activities.

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, Thursday, September 19. The company expects to complete the share allotment on Friday, September 20, and the stock may be listed on Tuesday, September 24.

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