Arkade Developers IPO Allotment Today: Investors Await Final Share Allocation Details

The Initial Public Offering (IPO) of real estate company Arkade Developers saw strong demand from investors. The bidding period ran from September 16 to 19, and now investors are eagerly awaiting the IPO allotment, which is expected to be finalized today, September 20.

Arkade Developers IPO Allotment Details

The company is expected to finalize the IPO allotment basis today. Investors who receive shares will see them credited to their demat accounts by September 23, while those whose applications were rejected will get refunds on the same day. The shares are set to be listed on the stock exchanges on September 24.

How to Check Allotment Status

If you applied for the Arkade Developers IPO, you can check the allotment status online through the BSE website or the IPO registrar, Bigshare Services Pvt Ltd. Here’s how to do it:

BSE Website

1. Visit BSE’s IPO status page.
2. Select 'Equity' in the Issue Type.
3. Choose ‘Arkade Developers Limited’ in the dropdown menu.
4. Enter your Application No. or PAN.
5. Verify with the CAPTCHA and click 'Search.'

Bigshare Services Website

1. Visit Bigshare Services IPO status page.
2. Select 'Arkade Developers Limited' from the dropdown.
3. Enter your details (Application No., Beneficiary ID, or PAN).
4. Fill in the CAPTCHA and click 'Search.'

IPO Grey Market Premium (GMP)

Arkade Developers' shares are currently seeing strong demand in the grey market. The Grey Market Premium (GMP) today is Rs.86 per share, indicating that the shares are trading Rs.86 higher than the issue price of Rs.128. This suggests an estimated listing price of Rs.214, which is a 67% premium.

IPO Subscription Details

The company raised Rs.410 crore from the IPO, with a fresh issue of 3.2 crore equity shares. The price band was set between Rs.121 to Rs.128 per share. The IPO was highly subscribed, receiving bids 106.83 times the available shares. Specifically:

• Retail investors subscribed 51.39 times.
• Non-Institutional Investors (NII) subscribed 163.02 times.
• Qualified Institutional Buyers (QIB) subscribed 163.16 times.

Lead Managers

Unistone Capital Pvt Ltd was the book-running lead manager for this IPO, and Bigshare Services Pvt Ltd is acting as the registrar.

Also read: Arkade Developers IPO vs. Northern Arc Capital IPO: Expert Opinions and Key Insights

Arkade Developers' listing on the stock exchanges BSE and NSE on September 24 is highly anticipated due to the strong demand and GMP performance.