IPO
Arkade Developers’ Rs.410-Cr IPO gets 106 times subscription
The INR 410 crore initial public offering (IPO) of Mumbai-based real estate player Arkade Developers got subscribed 106.40 times. The issue received bids for 2,52,97,38,200 shares against 2,37,75,719 shares on offer. Qualified institutional buyers’ part got subscribed 163.16 times while the quota for non-institutional investors fetched 162.75 times subscription. The portion for retail individual investors received 50.65 times subscription.The proceeds from the issue will be used for the development of the company's projects, and for the acquisition of projects.The IPO is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component, with a price band of INR 121-128 per share. The realty firm has raised INR 122.40 crore from anchor investors.
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