+
Arkade raises Rs 12.24 billion from anchor investors ahead of IPO
ECONOMY & POLICY

Arkade raises Rs 12.24 billion from anchor investors ahead of IPO

Real estate firm Arkade Developers Ltd has raised Rs 12.24 billion from anchor investors ahead of its Rs 4.1 billion initial public offering (IPO). The company set a price band of Rs 121-128 per share for the IPO, which will open for public subscription on September 16 and close on September 19.

According to a regulatory filing, Arkade Developers issued 9,562,500 shares to anchor investors at Rs 128 per share, amounting to Rs 12.24 billion. Key investors include BNP Paribas Financial Markets – ODI, Societe Generale-ODI, and Saint Capital Fund.

The IPO consists entirely of a fresh issue of equity shares worth Rs 4.1 billion, with no offer-for-sale (OFS) component. The proceeds will be used to develop ongoing and upcoming projects, fund the acquisition of future real estate projects, and cover general corporate purposes.

Arkade Developers, a rapidly growing real estate company with a strong presence in Mumbai, has developed 1.80 million square feet of residential property as of July 31, 2023, including projects undertaken through partnership entities where it holds a majority stake. From 2017 to Q1 2023, the company launched 1,040 residential units and sold 792 units in various markets within the Mumbai Metropolitan Region (MMR).

In terms of financial performance, the company's revenue stood at Rs 2.24 billion in fiscal 2023, Rs 2.37 billion in fiscal 2022, and Rs 1.13 billion in fiscal 2021. The IPO allocation reserves 50% of the issue size for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors. Investors can bid for a minimum of 110 shares and in multiples thereof.

(ET)

Real estate firm Arkade Developers Ltd has raised Rs 12.24 billion from anchor investors ahead of its Rs 4.1 billion initial public offering (IPO). The company set a price band of Rs 121-128 per share for the IPO, which will open for public subscription on September 16 and close on September 19. According to a regulatory filing, Arkade Developers issued 9,562,500 shares to anchor investors at Rs 128 per share, amounting to Rs 12.24 billion. Key investors include BNP Paribas Financial Markets – ODI, Societe Generale-ODI, and Saint Capital Fund. The IPO consists entirely of a fresh issue of equity shares worth Rs 4.1 billion, with no offer-for-sale (OFS) component. The proceeds will be used to develop ongoing and upcoming projects, fund the acquisition of future real estate projects, and cover general corporate purposes. Arkade Developers, a rapidly growing real estate company with a strong presence in Mumbai, has developed 1.80 million square feet of residential property as of July 31, 2023, including projects undertaken through partnership entities where it holds a majority stake. From 2017 to Q1 2023, the company launched 1,040 residential units and sold 792 units in various markets within the Mumbai Metropolitan Region (MMR). In terms of financial performance, the company's revenue stood at Rs 2.24 billion in fiscal 2023, Rs 2.37 billion in fiscal 2022, and Rs 1.13 billion in fiscal 2021. The IPO allocation reserves 50% of the issue size for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors. Investors can bid for a minimum of 110 shares and in multiples thereof. (ET)

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?