Arkade Developers Raises Rs.122.4 Crore from Anchor Investors

19 Sep 2024 CW Team

Real estate firm Arkade Developers Ltd has successfully raised ?1.224 billion from anchor investors ahead of its initial public offering (IPO), which is set to open for public subscription on September 16 and close on September 19. The company has set a price band of ?121-128 per share for its ?4.1 billion IPO.

In a regulatory filing, Arkade Developers announced that it has allocated 95,62,500 shares to anchor investors at ?128 per share, including prominent names such as BNP Paribas Financial Markets – ODI, Societe Generale – ODI, and Saint Capital Fund.

The IPO will consist entirely of a fresh issue of equity shares, with no offer-for-sale (OFS) component. The proceeds are intended for the development of Arkade's ongoing and upcoming projects, acquisition of future real estate projects, and general corporate purposes.

With a strong presence in Mumbai, Arkade Developers has developed 1.80 million square feet of residential property as of July 2023. The company has launched 1,040 residential units and sold 792 units between 2017 and Q1 2023 in the Mumbai Metropolitan Region (MMR).

Arkade's revenue over the last three fiscals stood at ?2.24 billion (FY 2023), ?2.38 billion (FY 2022), and ?1.13 billion (FY 2021), reflecting steady growth.

Half of the IPO is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors. Investors can bid for a minimum of 110 shares and in multiples thereof.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..