Arkade Developers IPO Update: What Investors Need to Know
The IPO for Arkade Developers, a real estate development company, has generated impressive interest from investors. After a successful bidding period from September 16 to 19, all eyes are now on the allotment results, which are expected to be announced today, September 20.
Key Dates:
- IPO Allotment Date: September 20
- Shares Credited to Demat Accounts: September 23
- IPO Listing Date: September 24
Arkade Developers raised ₹410 crore through this entirely fresh issue of 3.2 crore equity shares, with the price band set between ₹121 and ₹128 per share. The IPO was hugely popular, being subscribed 106.83 times overall. In particular, the retail category saw a 51.39 times subscription, while non-institutional investors and qualified institutional buyers subscribed 163.02 times and 163.16 times, respectively.
How to Check Allotment Status
Investors can easily check their IPO allotment status online through two main platforms: the BSE website and Bigshare Services.
On the BSE Website:
- Visit BSE Application Status.
- Select ‘Equity’ in the Issue Type.
- Choose ‘Arkade Developers Limited’ from the dropdown menu.
- Enter your Application Number or PAN.
- Complete the captcha verification and click ‘Search’.
On Bigshare Services:
- Go to Bigshare IPO Status.
- Select ‘Arkade Developers Limited’ from the Company dropdown.
- Choose between Application No., Beneficiary ID, or PAN.
- Enter the required details.
- Fill in the Captcha and click ‘Search’.
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Grey Market Premium (GMP)
Currently, Arkade Developers shares are trading at a grey market premium (GMP) of ₹86 per share. This indicates strong demand, suggesting that the estimated listing price could be around ₹214, which is a 67% premium over the IPO price of ₹128.
Summary
The Arkade Developers IPO has captured significant attention and interest, and investors should stay tuned for the allotment results today. The shares will be listed on both the BSE and NSE on September 24, so mark your calendars!
For further updates and to check your allotment status, make sure to visit the links provided above. Happy investing!