This IPO will open on the 16th.
Arcade Developer IPO: If you also want to make money from IPO, then this news might be helpful for you. Because the biggest IPO will open for investors tomorrow i.e. on Monday. Arcade Developers Limited’s IPO will open for bidding tomorrow i.e. on September 16 and will close on September 19. Before the IPO opens, the grey market premium for its shares is around Rs 63, which indicates a 49% premium over its issue price. In such a situation, let us know how you can get a stake in this IPO…
How much will have to be invested?
The company plans to raise Rs 410 crore through this IPO. The price band for the issue has been fixed at Rs 121-128 per share. Investors can bid for a minimum of 110 shares in one lot and then apply in multiples.
At the upper price band, Arcade Developers’ market cap will be around Rs 2,376 crore. This IPO will be a completely fresh issue, where there is no offer for sale (OFS) component. The company has already raised Rs 20 crore through a pre-IPO placement round.
How much participation for whom?
The company said it has reserved 50% of the IPO or shares worth Rs 204 crore for QIBs (qualified institutional bidders). While 15% of the shares worth Rs 61 crore have been reserved for NIIs (non-institutional investors). The remaining 35% or Rs 143 crore shares are reserved for retail investors.
Arcade Developers said it will use the capital raised from the IPO to complete its existing projects, acquire new projects and for other general corporate purposes. Unistone Capital is the sole lead book-running manager of the issue, while BigShare Services Pvt. Ltd. is the registrar of the issue.
This is how you will get the assignment.
The IPO award is not guaranteed, but the chances can be increased by following some tips…
- For example, apply for as many lots as possible for an IPO that has a huge demand. A retail investor can stake up to Rs 2 lakh in a motherboard IPO.
- At the same time, one should also apply for IPO from a Demat account opened through different PAN cards. In such a situation, the chances of allotment of IPO remain.
- There are some IPOs that are less talked about in the market but have higher expectations. In such a situation, IPO subscription remains limited and the expectation of allotment increases.
- You should try to file for an IPO the next day. Many times, for technical reasons, there is a problem with the IPO application on the third day.
What work does the company do?
Arkade Developers is a fast-growing real estate company in Mumbai. As of July 31, 2023, the company has developed 18 lakh sq ft of residential property. Between Q1 2017 and Q1 2023, the company has launched 1,040 residential units and sold 792 residential units across various markets in the Mumbai Metropolitan Region (MMR) in Maharashtra.
The company’s revenue for the financial years 2023, 2022 and 2021 was Rs 224 crore, Rs 237 crore and Rs 113 crore respectively. The allotment of shares of Arcade Developers is likely to take place on September 20, 2024 and its listing on BSE and NSE will take place on September 24, 2024.
