Arkade Developers IPO opens on Sep 16, check full details

Arkade Developers IPO is a book built issue of Rs. 410.00 crores. The issue is entirely fresh issue of 3.2 crore shares.

Arkade Developers IPO price band set at Rs. 121 to Rs. 128 per equity shares with a face value of Rs. 10 each. The minimum order quantity to subscribe the IPO is 110 equity shares, aggregating to Rs. 14,080.

Arkade Developers IPO is scheduled from Monday, September 16 to Thursday, September 19, 2024. The allotment of the IPO is expected to finalized on Friday, September 20, 2024. The IPO will list on NSE with tempting date fixed on Tuesday, September 24, 2024.

Unistone Capital Private Limited is book running lead manager. Kotak Mahindra Bank Limited and ICICI Bank Limited is sponsor bank of the IPO. Bigshare Services Private Limited is registrar to the issue.

Objects of the issue:-

The Company utilise the net proceeds from the Issue towards the following objects:

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
2. Funding acquisition of yet-to-be identified land for real estate projects and general corporate purposes.

Financial:-

Arkade Developers has achieved profit after tax of Rs. 1,228.08 million in FY 2024. The company has total borrowings of Rs. 694.10 million, out of which Rs. 290.42 crores is Long term borrowings and Rs. 403.68 million is Short term borrowings.

About Arkade Developers Limited (https://arkade.in/) –

Incorporated in 1986, one of the most respected real estate companies in Mumbai.

 Arkade as a brand is today synonymous with Trust, Quality, Assurance, Ethics, Transparency and Affordability. Every single residential or commercial property bearing the Arkade insignia is a fine specimen of the highest standards that transcends customer expectations consistently.

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