The listing of Bajaj Housing Finance has made investors rich. While the shares were listed at Rs 150 on NSE and made a high of Rs 161 per share. Whereas the company’s shares were listed at Rs 150 on BSE. In such a situation, many investors are also disappointed who did not get the IPO. But amidst the boom in the IPO market, another company has made its debut. Which is getting a lot of buzz in the grey market. Let’s know from the market giants whether to invest money in this IPO or not?
Arkade Developers Ltd. The IPO of has opened for subscription from today and will close on September 19. The company plans to raise ₹410 crore through this IPO. The price band of the IPO has been fixed at ₹121-128 per share. The minimum lot size for investors is 110 shares. After listing, the company’s market cap will be ₹2,376 crore as per the upper price band. The allotment of the IPO is expected to be done on September 20, 2024. Its listing date has been fixed on September 24, 2024.
The company will offer fresh shares worth ₹410 crore through the public issue, which does not include any offer-for-sale (OFS). The company has already raised ₹20 crore through a pre-IPO placement round. About 50% of the offer or ₹204 crore worth of shares are reserved for qualified institutional bidders (QIBs), while 15% of the offer or ₹61 crore worth of shares are reserved for non-institutional investors. ₹143 crore worth or 35% of the IPO shares are reserved for retail investors.
Company Fundamentals
Arkade Developers Ltd. is a fast-growing real estate development company with a significant presence in Mumbai. It has developed 1.80 million sq ft of residential properties as of July 31, 2023. From 2017 to the first quarter of FY 2023, the company has launched 1,040 residential units and sold 792 residential units across various markets in the Mumbai Metropolitan Region (MMR) of Maharashtra.
Looking at the revenue of Arkade Developers Ltd., it is ₹224 crores in FY 2023, ₹237 crores in 2022 and ₹113 crores in 2021. Unistone Capital is the sole book-running lead manager (BRLM), while Bigshare Services Private Limited is the registrar to the offer.
Arkade Developers Ltd. के Should you invest in IPO or not?
Choice Broking
Brokerage says that Arkade Developers is a big player in premium lifestyle residential properties. The company’s focus is on new development and redevelopment projects. The company’s unit sales are increasing continuously. The company has shown strong growth on the basis of profit and revenue. The company is debt free and also delivers projects on time, so we would recommend subscribing.
SBI Securities
The issue price of the IPO looks quite attractive. Arkade Developers has an excellent track record and its market share is also good. The company’s balance sheet and growth potential look strong as per the Mumbai Metropolitan Region. The company will use the IPO money to buy land. We would recommend investing for listing gains and long term.
Arihant Capital Markets
There is a good demand for Arkade Developers in the Mumbai Metropolitan Region. The company’s financial growth can improve further through upcoming projects. We would recommend subscribing.