Arkade Developers IPO: The IPO of real estate company Arcade Developers has received a tremendous response from investors. On the last day of investment, the IPO was subscribed 107 times and closed due to heavy investment from institutional and non-institutional investors. The company is raising Rs 410 crore through the IPO. In the grey market, the IPO of Arcade Developers is trading at a premium of 46.88 percent.
IPO subscribed 106.83 times
2,37,75,719 shares were issued in the IPO of Arcade Developers but due to strong subscription, applications have been received for 2,54,00,26,280 shares which is 106.83 times more. 67,43,800 shares were reserved for institutional investors (Qualified Institutional Buyers) in the IPO and applications have been received for a total of 1,10,03,00,410 shares and this quota has been subscribed a total of 163.16 times. 50,57,852 shares were reserved for non-institutional investors and applications have been received for 82,45,36,460 shares and this category has been subscribed 163.02 times. 1,18,01,654 shares were reserved for retail investors and applications were received for a total of 60,64,84,010 shares and the quota for retail investors was subscribed 51.39 times. While the quota reserved for employees was subscribed 50.49 times.
Listing on September 24
The price band for the IPO of Arcade Developers has been fixed at Rs 121 to Rs 128 per share. There is a lot size of 110 shares. The basis of allotment will be decided on Friday, September 20. Refunds will be issued on September 23, 2024 and shares will be transferred to the demat accounts of successful investors on the same day. The stock will be listed on BSE NSE on September 24, 2024.
GMP is up by 46.88%
Arcade Developers’ GMP declined to Rs 60 or 46.88 per cent on September 19 from Rs 85 or 66.41 per cent on September 18. As per the GMP, the stock is expected to list on the exchange at around Rs 188.
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