Sat Sep 21 01:14:26 UTC 2024: ## Arkade Developers IPO Allotment Finalized: Shares Oversubscribed, Strong Listing Expected

**Mumbai, September 20, 2023:** Arkade Developers’ initial public offering (IPO) has concluded with strong investor interest, resulting in an oversubscription of 106.83 times. The allotment process has been finalized, with successful bidders receiving their shares in their demat accounts on September 23. Refunds will also be initiated on the same day for rejected applications.

The IPO opened for subscription from September 16 to 19, with the shares set to list on both the BSE and NSE on September 24. The company successfully raised ₹410 crore through the fresh issue of 3.2 crore equity shares, priced at ₹128 per share.

The IPO witnessed strong demand across categories, particularly from retail investors (51.39 times oversubscribed) and non-institutional investors (163.02 times oversubscribed).

The grey market premium (GMP) for Arkade Developers shares currently stands at ₹86, indicating strong investor confidence. This translates to an estimated listing price of ₹214, a premium of 67% compared to the IPO price.

Investors can check their Arkade Developers IPO allotment status online through the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or the Bigshare Services website (https://ipo.bigshareonline.com/ipo_status.html).

The success of Arkade Developers IPO underscores the strong demand for real estate development stocks in the current market. The company’s strong performance during the IPO and the high GMP suggest a promising future for the company and its shareholders.

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