Latest News | Arkade Developers IPO Booked 29.42 Times
Get latest articles and stories on Latest News at LatestLY. The initial public offer of Arkade Developers got subscribed 29.42 times on Wednesday, day three of the share sale.
New Delhi, Sep 18 (PTI) The initial public offer of Arkade Developers got subscribed 29.42 times on Wednesday, day three of the share sale.
The Rs 410-crore initial share sale received bids for 69,94,46,440 shares against 2,37,75,719 shares on offer, according to NSE data.
The quota for non-institutional investors garnered 58.80 times subscription while the Retail Individual Investors (RIIs) part got subscribed 33.26 times. The portion for Qualified Institutional Buyers (QIBs) received 61 per cent subscription.
The initial public offer of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription.
Realty firm Arkade Developers Ltd has raised Rs 122.40 crore from anchor investors.
The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore initial public offering.
The initial share sale will conclude on September 19.
The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale (OFS) component.
Proceeds from the issue will be used for the development of the company's ongoing as well as upcoming projects, funding the acquisition of future real estate projects and general corporate purposes.
Arkade Developers is a fast-growing real estate development company with a significant presence in Mumbai.
Unistone Capital Private Ltd is the manager to the offer.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)