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 Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..