Bookbuilding IPO | ₹410 Cr | Listed at BSE, NSE | Mon, Sep 16, 2024 - Thu, Sep 19, 2024
Arkade Developers IPO is a book build issue of ₹410.00 crores. The issue is entirely a fresh issue of 3.20 crore shares of ₹410.00 crore.
Arkade Developers IPO bidding started from Sep 16, 2024 and ended on Sep 19, 2024. The allotment for Arkade Developers IPO was finalized on Sep 20, 2024. The shares got listed on BSE, NSE on Sep 24, 2024.
Arkade Developers IPO price band is set at ₹128 per share. The lot size for an application is 110. The minimum amount of investment required by an retail is ₹14,080 (110 shares) (based on upper price). The lot size investment for sNII is 15 lots (1,650 shares), amounting to ₹2,11,200, and for bNII, it is 72 lots (7,920 shares), amounting to ₹10,13,760.
The issue includes a reservation of up to 1,62,601 shares for employees offered at a discount of ₹5.00 to the issue price.
Unistone Capital Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Arkade Developers IPO RHP for detailed Information.
IPO Open
Mon, Sep 16, 2024
IPO Close
Thu, Sep 19, 2024
Issue Price
₹128 per share
Market Cap (Pre-IPO)
₹2,376.41 Cr
| IPO Date | 16 to 19 Sep, 2024 |
| Listed on | Tue, Sep 24, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹128 |
| Issue Price | ₹128 per share |
| Lot Size | 110 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹5.00 |
| Total Issue Size | 3,20,37,601 shares (agg. up to ₹410 Cr) |
| Fresh Issue | 3,20,37,601 shares (agg. up to ₹410 Cr) |
| Share Holding Pre Issue | 15,36,26,016 shares |
| Share Holding Post Issue | 18,56,57,266 shares |
| BSE Script Code / NSE Symbol | 544261 / ARKADE |
| ISIN | INE0QRL01017 |
Arkade Developers IPO offers total 3,20,37,601 shares. Out of which 1,59,37,500 (49.75%) allocated to QIB, 63,75,000 (19.90%) allocated to QIB (Ex- Anchor), 47,81,250 (14.92%) allocated to NII 1,11,56,250 (34.82%) allocated to RII and 95,62,500 (29.85%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,59,37,500 (49.75%) | NA |
| − Anchor Investor Shares Offered | 95,62,500 (29.85%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 63,75,000 (19.90%) | NA |
| NII (HNI) Shares Offered | 47,81,250 (14.92%) | NA |
| − bNII > ₹10L | 31,87,500 (9.95%) | 1,931 |
| − sNII < ₹10L | 15,93,750 (4.97%) | 965 |
| Retail Shares Offered | 1,11,56,250 (34.82%) | 1,01,420 |
| Employee Shares Offered | 1,62,601 (0.51%) | NA |
| Total Shares Offered | 3,20,37,601 (100.00%) |
Investors can bid for a minimum of 110 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹14,080 |
| Retail (Max) | 14 | 1,540 | ₹1,97,120 |
| S-HNI (Min) | 15 | 1,650 | ₹2,11,200 |
| S-HNI (Max) | 71 | 7,810 | ₹9,99,680 |
| B-HNI (Min) | 72 | 7,920 | ₹10,13,760 |
Arkade Developers IPO raises ₹122.40 crore from anchor investors. Arkade Developers IPO Anchor bid date is September 13, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 13, 2024 |
| Shares Offered | 95,62,500 |
| Anchor Portion (₹ Cr.) | 122.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Oct 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Dec 19, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Arkade Developers Limited is a real estate development company focused on developing high-end, sophisticated lifestyle residential developments in Mumbai, Maharashtra.
The company's business can be divided into two segments:
The company is involved in the development of new projects and the redevelopment of existing buildings. Between 2017 and Q1 2024, the company launched 1,220 residential units and sold 1,045 residential units in various markets in MMR, Maharashtra. As of June 30, 2024, the company has developed 2.20 million square feet of residential properties. From CY 2003 to March 2024, the company has completed the redevelopment of 10 projects in the western suburbs of Mumbai and 1 project in south-central Mumbai (through a partnership firm in which the company held a majority stake) with a total built-up area of 1,000,000 square feet (approx.).
In the last two decades, the Company has completed 28 projects including 11 projects on a standalone basis including 2 projects executed through partnership firms in which the Company held a majority stake, 8 projects executed by the promoter through his proprietorship, M/s Arkade Creations, and 9 projects through joint development agreements with other third parties with a total built-up area of more than 4.5 million square meters awarded to more than 4,000 customers.
As of June 30, 2024, the company had 201 permanent employees and an additional 850 employees on a contract basis as of June 30, 2024.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 575.01 | 555.41 | 369.97 |
| Total Income | 635.71 | 224.01 | 237.18 |
| Profit After Tax | 122.81 | 50.77 | 50.84 |
| NET Worth | 323.40 | 200.32 | 149.50 |
| Reserves and Surplus | 171.40 | 198.32 | 147.49 |
| Total Borrowing | 69.41 | 149.00 | 64.41 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding a part of the costs to be incurred in the development of our Ongoing Projects (viz. Arkade Nest, Prachi CHSL and C-Unit) (Funding Development Expenses); and | 250.00 |
| 2 | Funding acquisition of yet-to-be identified land for real estate projects and general corporate purposes | 131.07 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 46.90% |
| ROCE | 47.34% |
| Debt/Equity | 0.21 |
| RoNW | 46.90% |
| PAT Margin | 19.35% |
| Price to Book Value | 6.02 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.99 | 6.61 |
| P/E (x) | 16.01 | 19.35 |
| Promoter Holding | 85.58% | 70.82% |
| Market Cap | ₹2,376.41 Cr. |
The Arkade Developers IPO is subscribed 113.49 times on September 19, 2024 6:16:09 PM (Day 4). The public issue subscribed 53.78 times in the retail category, 172.6 times in the QIB category, and 172.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 172.6 | 63,75,000 | 1,10,03,00,410 |
| NII | 172.22 | 47,81,250 | 82,34,30,190 |
| bNII (bids above ₹10L) | 169.95 | 31,87,500 | 54,17,11,170 |
| sNII (bids below ₹10L) | 176.76 | 15,93,750 | 28,17,19,020 |
| Retail | 53.78 | 1,11,56,250 | 59,99,69,370 |
| Total | 113.49 | 2,23,12,500 | 2,53,23,06,150 |
Total Application : 50,34,489
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission, as applicable) | 1.45 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Issue and fee payable to the Sponsor Bank for Bids made by RIBs. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs(1)(2)(3)(4)(5) | 0.32 |
| 3 | Fees payable to Registrar to the Issue | 0.09 |
| 4 | Advertising and marketing expenses | 0.16 |
| 5 | Fee payable to auditors, consultants and market research firms | 0.10 |
| 6 | Others (i) Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses; | 0.49 |
| 7 | (ii) Printing and distribution of stationery; | 0.01 |
| 8 | (iii) Fees payable to legal counsel; and | 0.11 |
| 9 | (iv) Miscellaneous. | 0.17 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹128.00 | ₹128.00 |
| Open | ₹175.90 | ₹175.00 |
| Low | ₹164.70 | ₹164.80 |
| High | ₹190.00 | ₹190.00 |
| Last Trade | ₹165.85 | ₹165.86 |
Lead Manager Reports
Arkade Developers IPO is a main-board IPO of 3,20,37,601 equity shares of the face value of ₹10 aggregating up to ₹410 Crores. The issue is priced at ₹128 per share. The minimum order quantity is 110.
The IPO opens on Mon, Sep 16, 2024, and closes on Thu, Sep 19, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Arkade Developers IPO using UPI as a payment gateway. Zerodha customers can apply in Arkade Developers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Arkade Developers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Arkade Developers IPO opens on Mon, Sep 16, 2024 and closes on Thu, Sep 19, 2024.
Arkade Developers IPO lot size is 110, and the minimum amount required for application is ₹14,080.
You can apply in Arkade Developers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Arkade Developers IPO will be done on Friday, September 20, 2024, and the allotted shares will be credited to your demat account by Mon, Sep 23, 2024. Check the Arkade Developers IPO allotment status.
The Arkade Developers IPO listing date is on Tue, Sep 24, 2024.
