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- Upcoming IPO; Arkade Developers Northern Arc Capital IPO Opening Date | Share Listing Details
Mumbai4 days ago
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Two Initial Public Offers (IPOs) will open on September 16 for listing in the stock market. These include Arcade Developers Limited and Northern Arc Capital Limited. Investors will be able to bid for both the IPOs till September 19.
The shares of both these companies will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on September 24. Let us now know about the IPO of both the companies one by one.
1. Arcade Developers Limited
Arcade Developers Limited wants to raise a total of ₹410 crore through this IPO. For this, the company is issuing 32,031,250 fresh shares worth the entire ₹410 crore. The existing investors of the company are not selling a single share through the Offer for Sale (OFS).
Retail investors can bid for maximum 1540 shares
Arcade Developers Limited has fixed the price band of this issue at ₹121-₹128. Retail investors can bid for a minimum of one lot i.e. 110 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹128, then you will have to invest ₹14,080 for it.
At the same time, retail investors can apply for a maximum of 14 lots i.e. 1540 shares. For this, investors will have to invest ₹ 197,120 according to the upper price band.
Arcade Developers is a real estate development company
Arcade Developers Limited is a real estate development company that mainly develops sophisticated lifestyle residential developments in Maharashtra. As of July 31, 2023, the company has built more than 18 lakh square feet of homes. This also includes projects that they have built in collaboration with other companies. From 2017 to the first quarter of 2023, the company has launched more than 1040 homes and sold 792 homes in Mumbai and surrounding areas.
Arcade Developers Ltd. Premium 37.5% in Grey Market
Before the IPO opening, the company’s stock has reached a premium of 37.5% i.e. ₹ 48 per share in the gray market. In such a situation, according to the upper price band of ₹ 128, its listing can happen at ₹ 176. However, this can only be estimated, the price of the listing of the stock is different from the price of the gray market.
2. Northern Arc Capital Limited
Northern Arc Capital Limited wants to raise a total of ₹ 777 crore through this IPO. For this, the company is issuing 19,011,407 fresh shares worth ₹ 500 crore. Whereas, the existing investors of the company are selling 10,532,320 shares worth ₹ 277 crore through Offer for Sale (OFS).
Retail investors can bid for a maximum of 741 shares
Northern Arc Capital Limited has fixed the price band of this issue at ₹249-₹263. Retail investors can bid for a minimum of one lot i.e. 57 shares. If you apply for 1 lot as per the IPO’s upper price band of ₹128, then you will have to invest ₹14,991 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 741 shares. For this, investors will have to invest ₹ 194,883 according to the upper price band.
35% share in both IPOs is reserved for retail investors Both the companies have reserved 75% of their IPO for qualified institutional buyers (QIB). Apart from this, about 10% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.