Arkade Developers, a prominent real estate company based in Mumbai, has captured the attention of investors with its Initial Public Offering (IPO). The company’s shares have seen a tremendous response in the unlisted grey market, with high demand and a notable premium, sparking excitement ahead of the upcoming listing on September 24, 2024.
With the IPO subscription closing on September 19, 2024, investors are keenly waiting to see how Arkade Developers’ shares will perform once they debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Arkade Developers IPO Price Band and Grey Market Premium (GMP)
The price band for Arkade Developers’ IPO was set between ₹121 and ₹128 per share, with a face value of ₹10 per equity share. In the grey market, the shares are currently trading at a premium of ₹63 per share, which means they are being exchanged ₹63 higher than the issue price.
This indicates a potential listing price of around ₹191 per share, reflecting a 49.22% premium over the upper end of the price band. The grey market premium is often seen as a leading indicator of how a stock might perform upon listing. Investors appear confident that Arkade Developers could see strong gains right out of the gate.
Impressive Subscription Numbers Across Investor Categories
The IPO of Arkade Developers received an overwhelming response from investors, with the total subscription reaching an impressive 106.83 times. The breakdown of subscription across different investor categories shows strong demand:
- Retail Investors: Subscribed 51.39 times.
- Non-Institutional Investors (NII): Subscribed 163.02 times.
- Qualified Institutional Buyers (QIB): Subscribed 163.16 times.
These figures clearly indicate that Arkade Developers has generated substantial interest from both institutional and retail investors alike. The high subscription levels suggest strong confidence in the company’s growth potential and future prospects.
How to Check Arkade Developers IPO Allotment Status
With the allotment finalized on September 20, 2024, investors can now check whether they have received shares from the IPO. To check the status of your allotment, follow these simple steps:
- Visit the BSE IPO Allotment Status page.
- Select ‘Equity’ under the ‘Issue Type’ section.
- From the ‘Issue Name’ dropdown menu, choose ‘Arkade Developers Limited’.
- Enter your Application Number or PAN.
- Complete the CAPTCHA and click ‘Search’.
Your allotment details will appear on the screen, showing whether you have been allocated shares.
What to Expect on Listing Day?
With Arkade Developers’ shares generating a 49% grey market premium, market analysts are anticipating a strong debut when the stock lists on September 24, 2024. The company’s robust presence in Mumbai’s real estate sector and the high investor demand for its shares indicate that Arkade Developers could perform well on the stock market.
The ₹410 crore raised from the IPO, through the issue of 3.2 crore fresh shares, will help fund ongoing and future real estate projects, acquire new land, and cover general corporate expenses.
Will Arkade Developers IPO Deliver Listing Gains?
The grey market premium and strong subscription data are positive signals for Arkade Developers’ stock performance. However, market volatility and external factors can also play a role in the final listing outcome. Investors are optimistic, but it’s always essential to approach such investments with a balanced view of both risks and potential rewards.
What Do You Think?
Do you believe Arkade Developers’ IPO will yield strong listing gains? Share your thoughts in the comments section below! Let us know if you’ve applied for the IPO and how you feel about the company’s growth prospects.
