Fri Sep 20 07:45:35 UTC 2024: ## Arkade Developers IPO Over-Subscribed by 113 Times, Strong Interest from Investors

**Mumbai, September 20, 2024:** Arkade Developers Limited, a real estate company, successfully concluded its initial public offering (IPO) on Thursday, September 19, 2024, after receiving an overwhelming response from investors. The IPO, which aimed to raise Rs 410 crore, saw a subscription of 113.49 times, exceeding the initial target by a significant margin.

The IPO’s price band was set at Rs 121 to 128 per share, and it witnessed strong demand across all categories, including retail, Qualified Institutional Buyers (QIBs), and Non-Institutional Investors (NIIs). The retail portion was subscribed 53.78 times, QIBs at 172.60 times, and NIIs at 172.22 times.

Investors who have bid for the IPO can now check their allotment status online by logging in to either the BSE website or the website of Bigshare Services Pvt Ltd, the registrar for the issue.

The latest grey market premium (GMP) for Arkade Developers IPO, as of September 20, 2024, is Rs 60. With a price band of Rs 128, the estimated listing price is Rs 188, indicating a potential listing gain of 46.88% per share.

Arkade Developers shares are scheduled to be listed on the BSE and NSE on Tuesday, September 24, 2024. The strong response to the IPO signifies investor confidence in the company’s growth prospects and future performance.

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