Tue Sep 17 00:00:23 UTC 2024: ## Arkade Developers IPO Opens for Subscription: Potential for 55% Listing Gain

**Mumbai, September 15, 2023:** Arkade Developers, a Mumbai-based real estate developer, is set to launch its Initial Public Offering (IPO) on Monday, September 16th, with subscriptions opening on Wednesday, September 19th. The IPO is priced between ₹121 and ₹128 per share, aiming to raise ₹410 crore through a fresh issue of 3.2 crore shares.

The minimum lot size for application is 110 shares, requiring a minimum investment of ₹14,080 for retail investors. The allocation is expected to be completed on Friday, September 20th, with the listing planned for Tuesday, September 24th on both BSE and NSE.

InvestorGain reports that Arkade Developers’ IPO shares are currently trading at ₹70, suggesting a potential listing price of ₹198 and a potential gain of 55%. Brokerage firm Choice Broking has rated the IPO as a “Subscribe” due to its strong growth prospects and attractive valuation.

Arkade Developers has a strong track record in Mumbai, having successfully developed 1.80 million square feet of residential space as of July 31st, 2023. The company has launched 1,040 residential units since 2017, selling 792 in the Mumbai Metropolitan Region (MMR).

The proceeds from the IPO will be used to fund the development of current and future real estate projects, acquire future projects, and for general corporate purposes.

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