Arcade developers’ IPO closed
The IPO of real estate company Arcade Developers Limited was subscribed 106.40 times on Thursday. The company’s IPO opened on September 16 and closed today. Now the listing of its shares will take place on Tuesday, September 24. Do you know what the premium price is on the grey market?
As per the data available with NSE, the company had offered 2,37,75,719 shares in this IPO. While it has received bids for 2,52,97,38,200 shares, the company’s IPO has been oversubscribed.
How much subscription came in which category?
The QIB category has been subscribed 163.16 times in this IPO. While the non-institutional investors category has been subscribed 162.75 times. The IPO of the company was subscribed 50.65 times in the retail category.
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Prior to the opening of the IPO, Arcade Developers had raised Rs 122.40 crore from anchor investors. The company had maintained the price band of Rs 121-128 per share for its Rs 410 crore IPO. There is no SFO involved in this IPO.
The stock can be quoted at this amount of rupees.
Shares of GMP of Arcade Developers are trading at Rs 60. In such a situation, its Rs 128 stake is expected to reach Rs 188 on the day of listing.
The company says the funds raised from the IPO will be used for the development of the company’s existing and future projects, the acquisition of future real estate projects and general corporate purposes.
Disclaimer: The GMP of a stock is only an estimate of its price. The value of a company’s shares is decided on the market only after it is listed on the stock exchange. If you want to invest in the stock market, it is important to seek expert advice on this matter. Investing in the stock market can be risky.
