Sat Sep 21 18:51:44 UTC 2024: ## Arkade Developers IPO a Success, Oversubscribed 114 Times

**Mumbai, India** – Arkade Developers, a real estate development company, has successfully completed its initial public offering (IPO), receiving strong demand from investors. The IPO, which was open for subscription from September 16 to 19, was oversubscribed by 114 times, indicating a strong appetite for the company’s shares.

The IPO price band was set between Rs 121 and Rs 128 per equity share, with a minimum investment of Rs 14,080 for retail investors. The company raised a total of Rs 410 crore through the IPO, with proceeds to be used for developing ongoing and upcoming projects, funding future real estate acquisitions, and covering general corporate expenses.

“The successful oversubscription of the IPO is a testament to the confidence investors have in Arkade Developers and our vision for the future,” said [Name of CEO/Spokesperson], [Position] at Arkade Developers.

The company has a strong track record in the Mumbai real estate market, having developed 1.80 million square feet of residential properties as of July 31, 2023. Between 2017 and the first quarter of 2023, Arkade launched 1,040 residential units and sold 792 units across various markets in the Mumbai Metropolitan Region (MMR).

Arkade Developers is expected to be listed on the BSE and NSE on September 24. The final allotment of shares was announced on September 20, with shares being credited to successful bidders’ demat accounts on September 23.

**Key Highlights:**

* IPO oversubscribed 114 times
* IPO price band: Rs 121-128 per share
* Total IPO size: Rs 410 crore
* Listing date: September 24
* Arkade Developers has a strong presence in the Mumbai real estate market.

Analysts believe that Arkade Developers is well-positioned to benefit from the growing real estate market in Mumbai. The company’s strong financials and impressive sales growth have also contributed to the positive investor sentiment.

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