Arkade Developers IPO Allotment: Key Details on Application Status, GMP, and Listing Date

The allotment of shares for Arkade Developers’ IPO is expected to be finalized on Friday, September 20. Investors who participated in the IPO can expect notifications regarding fund debits or mandate revocations over the weekend or by Monday, September 23. The IPO had garnered strong interest from investors during the bidding process.

Arkade Developers, a Mumbai-based real estate company, offered its IPO within a price band of ₹121-128 per share with a lot size of 110 shares. The bidding period was open from September 16 to September 19, during which the company aimed to raise around ₹410 crore through the sale of 3,20,310,250 fresh equity shares.

The issue saw an overwhelming response, with an overall subscription rate of 106.83 times. The highest demand came from qualified institutional bidders (QIBs) and non-institutional investors (NIIs), whose quotas were oversubscribed by 163.16 times and 163.02 times, respectively. Meanwhile, retail investors and employees saw their portions subscribed 51.39 times and 50.49 times, respectively.

Despite the strong bidding, Arkade Developers’ grey market premium (GMP) has experienced a correction amid broader market volatility. The latest GMP was reported at ₹60 per share, indicating a potential listing gain of about 48%. Initially, the GMP was ₹85 when the bidding process began.

Arkade Developers specializes in high-end residential developments in Mumbai and the MMR region. The company’s operations are split between constructing new residential buildings and redeveloping existing properties.

Brokerage firms have been largely optimistic about the IPO, advising long-term investment due to the company’s strong market presence in Mumbai, efficient delivery timelines, and experienced management team. However, concerns remain regarding ongoing litigations, rising costs, third-party contractors, and raw material expenses.

Unistone Capital is the lead manager for the IPO, with Bigshare Services serving as the registrar. Arkade Developers’ shares are slated to be listed on both BSE and NSE, with the tentative listing date set for September 24.

How to Check Allotment Status: Investors who applied for the Arkade Developers IPO can check their allotment status through the Bombay Stock Exchange (BSE) website:

1. Go to BSE IPO Status
2. Select “Equity” under the issue type.
3. Choose “Arkade Developers Limited” from the dropdown.
4. Enter the application number and PAN details.
5. Complete the captcha and click “Submit.”

Alternatively, the status can also be checked on the Bigshare Services Limited website:

1. Visit Bigshare Services IPO Status
2. Select the relevant IPO name once the allotment is finalized.
3. Choose one of the modes: Application number/CAF No, Beneficiary ID, or PAN ID.
4. Enter the required details and complete the captcha.
5. Click “Search” to view the allotment status.

Bigshare Services, as the registrar, is responsible for managing the electronic processing of applications, allotment of shares, refunds, and investor queries, ensuring all timelines are met as per the prospectus.

Disclaimer: The information provided in this article is based on updates and reports gathered from various sources. Every effort has been made to ensure accuracy and reliability. We encourage readers to verify the details independently.