The Arkade Developers IPO allotment status is expected to be announced soon. Investors who have applied for the IPO can check their allotment status through the BSE website or by visiting the registrar's website, Bigshare Services.
The Arkade Developers IPO received an overwhelming response from investors, with a subscription of nearly 107 times at close. The company plans to use the funds for the development of ongoing and upcoming real estate projects, funding the acquisition of future projects, and for general corporate purposes.
Arkade Developers is a leading real estate development company with a significant presence in Mumbai, focusing on the development of premium, aspirational lifestyle residential properties. The company has developed 2.2 million square feet of residential property as of June 2024.
The company's revenue in FY24 increased by 189% year-on-year to Rs 635 crore, while net profit more than doubled to Rs 123 crore in the same period. Unistone Capital is the sole Book Running Lead Manager (BRLM) for the issue.
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