+
Arkade Developers Rs 4.1 billion IPO to launch on September 16
Real Estate

Arkade Developers Rs 4.1 billion IPO to launch on September 16

Arkade Developers Ltd, a real estate company, is set to launch its Rs 4.1 billion initial public offering (IPO) on September 16. The IPO will close on September 19, with bidding for anchor investors open for a single day on September 13, according to the company's red herring prospectus (RHP). The offering consists entirely of a fresh issue of equity shares worth Rs 4.1 billion, with no offer-for-sale (OFS) component.

The company has already raised Rs 200 million through a pre-IPO placement. Proceeds from the IPO will be used to finance Arkade's ongoing and upcoming real estate projects, as well as for the acquisition of future projects and general corporate purposes.

Arkade Developers, a fast-growing real estate company, has a notable presence in Mumbai. As of July 31, 2023, the firm has developed 1.80 million square feet of residential property, including projects in which it holds a majority stake through partnership entities. Between 2017 and the first quarter of 2023, the company launched 1,040 residential units and sold 792 across various markets in the Mumbai Metropolitan Region (MMR).

Arkade Developers reported revenues of Rs 2.24 billion, Rs 2.37 billion, and Rs 1.13 billion in the fiscal years 2023, 2022, and 2021, respectively. (ET)

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Arkade Developers Ltd, a real estate company, is set to launch its Rs 4.1 billion initial public offering (IPO) on September 16. The IPO will close on September 19, with bidding for anchor investors open for a single day on September 13, according to the company's red herring prospectus (RHP). The offering consists entirely of a fresh issue of equity shares worth Rs 4.1 billion, with no offer-for-sale (OFS) component. The company has already raised Rs 200 million through a pre-IPO placement. Proceeds from the IPO will be used to finance Arkade's ongoing and upcoming real estate projects, as well as for the acquisition of future projects and general corporate purposes. Arkade Developers, a fast-growing real estate company, has a notable presence in Mumbai. As of July 31, 2023, the firm has developed 1.80 million square feet of residential property, including projects in which it holds a majority stake through partnership entities. Between 2017 and the first quarter of 2023, the company launched 1,040 residential units and sold 792 across various markets in the Mumbai Metropolitan Region (MMR). Arkade Developers reported revenues of Rs 2.24 billion, Rs 2.37 billion, and Rs 1.13 billion in the fiscal years 2023, 2022, and 2021, respectively. (ET)

Next Story
Infrastructure Transport

68 Jammu-Katra Trains Cancelled Amid Rain Damage

Jammu and Katra railway services remain severely affected as Northern Railway announced the cancellation of 68 trains—both incoming and outgoing—until 30 September, due to extensive track damage caused by heavy rains and flash floods. Meanwhile, 24 trains are scheduled to resume operations gradually.The Jammu railway division has experienced a complete halt in services for the past eight days, following track misalignment and breaches at several points along the Pathankot–Jammu section. Torrential rainfall since 26 August led to widespread flooding and damage, stranding hundreds of passe..

Next Story
Infrastructure Transport

Bangalore Metro MD Reviews Reach 6 and Phase 2A Progress

Bangalore Metro Rail Corporation Limited (BMRCL) Managing Director, Dr J Ravishankar, IAS, conducted inspections of key metro corridors on 29 and 30 August, reviewing the progress of Reach 6 (Pink Line) and Phase 2A (Blue Line).On 30 August, the inspection covered Reach 6, a 21.39-km corridor stretching from Kalena Agrahara to Nagawara, with 18 stations. This stretch is part of Phase 2 of the Bangalore Metro project. Dr Ravishankar assessed the status of civil works, finishing, track laying, and system integration between Kalena Agrahara and MG Road.Earlier, on 29 August, the MD inspected Phas..

Next Story
Infrastructure Urban

Kerala Spends Rs 200 Billion During Onam Celebrations

The Kerala state government incurred expenditure totalling Rs 200 billion during the recent Onam season, covering regular financial obligations such as salaries and pensions, as well as festival-related allowances and subsidies, according to Finance Minister K N Balagopal.Of the total spend, Rs 121 billion was allocated towards salaries, pensions, bonuses, and festival allowances for government employees and pensioners. A further Rs 18 billion was disbursed as welfare pensions benefiting 6.2 million recipients, helping households manage festive costs.Food Kits and Festival AllowancesTo support..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?