The Arkade Developers IPO is generating significant buzz in the market, with the allotment of shares expected to take place today, September 20. After a remarkable subscription rate of 106.40 times, the company has caught the attention of investors and analysts alike. Here’s everything you need to know about the IPO, including the latest Grey Market Premium (GMP) and how to check your allotment status.
Overview of Arkade Developers IPO
The initial public offering (IPO) of Arkade Developers aimed to raise ₹410 crore through a fresh issue of equity shares, with no offer-for-sale (OFS) component. The price band for the IPO was set between ₹121 and ₹128 per share. The overwhelming response from investors saw bids for over 254 crore shares against the 2.37 crore shares available, showcasing strong market confidence in the company.
Subscription Details
The IPO’s subscription rate highlights robust interest:
- Total Subscription: 106.40 times
- Bids Received: 254 crore shares
- Shares Offered: 2.37 crore shares
- Funds Raised from Anchor Investors: ₹122.40 crore
The massive oversubscription indicates a high demand for the shares, which is often seen as a positive signal for potential listing performance.
Latest GMP
As of now, Arkade Developers shares are commanding a Grey Market Premium (GMP) of approximately ₹58 to ₹60. This suggests a potential listing premium of nearly 50% when the shares are officially listed on the exchanges, which is scheduled for September 24. A strong GMP often reflects positive sentiment among investors regarding a company’s debut on the stock market.
How to Check Allotment Status
Investors looking to verify their share allotment can do so through multiple channels:
Checking Allotment via Bigshare Services
- Visit the Bigshare Services Website: IPO Status Check.
- Select Arkade Developers: Choose the company from the dropdown menu.
- Fill in Required Details: Enter your PAN, Application number, or DP client ID.
- Click on Search: The allotment status will be displayed.
Checking Allotment via BSE
- Go to BSE Website: Visit the Bombay Stock Exchange website.
- Navigate to ‘Investors’: Click on the ‘Investors’ tab.
- Find ‘Status of Issue Application’: Under ‘Investor Services’, click on this option.
- Select Application Status Check: Click on it.
- Choose Equity: Select ‘Equity’ in the issue type.
- Enter Required Details: Fill in the ‘Issue Name’, PAN number, and other necessary information.
- Click Search: View your allotment status.
Future Prospects
The proceeds from the Arkade Developers IPO will be utilized for various purposes, including:
- Development of ongoing and upcoming projects
- Funding the acquisition of future real estate ventures
- General corporate purposes
Arkade Developers has established itself as a fast-growing player in the real estate market with a significant presence in Mumbai, making it a company to watch in the upcoming years.
Conclusion
With a successful IPO subscription and a promising GMP, Arkade Developers is poised for a strong debut on the stock exchanges. Investors are encouraged to check their allotment status today to see if they have secured shares in this highly anticipated offering. The scheduled listing on September 24 marks an exciting milestone for Arkade Developers and its stakeholders, further reinforcing the company’s position in the vibrant real estate sector.
Stay tuned for updates and prepare for the listing day as Arkade Developers takes its next significant step in the market!