Arkade Developers IPO: Real Estate Giant Secures ₹122.4 Crore in Anchor Round Ahead of Public Launch – Here’s What You Need to Know!

Arkade Developers Limited, a real estate company, announced on Friday that it raised around ₹122.4 crore from investors through its anchor book round. This was done before the company’s upcoming initial public offering (IPO), according to its exchange filing.

In the anchor round, Arkade Developers allocated 95.62 lakh (9.56 million) equity shares to nine anchor investors at ₹128 per share, with a face value of ₹10 each.

The major investors in this round include Stern Global, BNP Paribas, Intuitive Alpha Investments, Saint Capital, Societe Generale, NAV Capital, Visionary Value Fund, Gagandeep Credit Capital, and Rajasthan Global Securities.

BNP Paribas took the largest share at 20.43%, while Intuitive Alpha, Saint Capital, and Stern Global each took 16.34%.

The real estate developer did not report any mutual fund participation in the anchor round.

Arkade Developers IPO Details

Arkade Developers is a Mumbai-based company that focuses on high-end residential buildings. Its projects include both new constructions and the redevelopment of existing buildings.

The company’s IPO will open for public subscription on Monday, September 16, and close on Thursday, September 19.

The public offer aims to raise ₹410 crore with a price band of ₹121 to ₹128 per share. Investors can buy a minimum lot of 110 shares, and in multiples of 110 shares after that.

The company plans to use the funds to continue development on projects like Arkade Nest, Prachi CHSL, and C-Unit, as well as to purchase new property for future real estate projects. It will also allocate some of the money for general corporate expenses.

Arkade Developers reported a 142% increase in net profit and 184% revenue growth in the financial year 2024, compared to the previous year.