Arkade Developers IPO Allotment: Everything You Need to Know

Arkade Developers, a prominent Mumbai-based real estate company, has successfully concluded its Initial Public Offering (IPO). Investors are now eagerly awaiting the allotment of shares, which is set to be finalized on September 20, 2024 .

IPO Overview

The Arkade Developers IPO opened for subscription on September 16 and closed on September 19, 2024. The company aimed to raise Rs 410 crore through the issuance of 3.2 crore fresh shares. The price band was set at Rs 121 to Rs 128 per equity share, with a minimum lot size of 110 shares.

Impressive Subscription Numbers

The IPO received an overwhelming response from investors across categories:

Overall subscription: 113.49 times
Qualified Institutional Buyers (QIBs): 163.16 times
Non-Institutional Investors (NIIs): 163 times
Retail Individual Investors (RIIs): 51.39 times
Employee portion: 50.49 times

This strong demand indicates high investor confidence in Arkade Developers’ growth potential and market position.

How to Check Your Allotment Status

Investors can check their allotment status through the following methods:

Bigshare Services Website:
- Visit https://www.bigshareonline.com/ipo_Allotment.html
- Select “Arkade Developers” from the dropdown menu
- Enter your application details and captcha
- Click “Search” to view your allotment status
BSE Website:
- Go to https://www.bseindia.com/investors/appli_check.aspx
- Choose “Equity” as the issue type
- Select “Arkade Developers Limited” from the dropdown
- Enter your application number or PAN
- Complete the captcha and click “Search”

Grey Market Premium and Listing Expectations

As of September 20, 2024, Arkade Developers’ shares are commanding a Grey Market Premium (GMP) of Rs 60, indicating a 46.88% premium over the IPO price. Based on this GMP, the estimated listing price is around Rs 188 per share.

Important Dates

IPO Allotment Date: September 20, 2024
Refund Initiation: September 23, 2024
Credit of Shares: September 24, 2024
Listing Date: September 24, 2024 (on BSE and NSE)

Conclusion

The strong subscription numbers and positive GMP suggest a promising debut for Arkade Developers on the stock market. Investors should keep an eye on the allotment results and prepare for the listing day. As always, it’s advisable to consider market risks and consult financial advisors before making investment decisions.