Tue Sep 24 20:05:43 UTC 2024: ## Arkade Developers Makes Strong Stock Market Debut, Shares Surge Over 35%

**Mumbai, India** – Real estate developer Arkade Developers enjoyed a successful stock market debut on Monday, with its shares opening at a significant premium on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The stock listed at ₹175.90 apiece on the BSE, a 37.42% premium to its initial public offering (IPO) price of ₹128 per share. On the NSE, shares opened at ₹175, representing a 36.72% premium.

While the listing fell slightly below grey market expectations of a 50% premium, the strong initial performance reflects investor confidence in the company’s future. Arkade Developers’ IPO was heavily oversubscribed, garnering a total subscription of 106.83 times.

“The public issue was small in size, which led to higher subscription status. However, getting over 100 times subscription is something that one can’t ignore,” noted Arun Kejriwal, Founder of Kejriwal Research and Investment Services.

The IPO, which raised ₹410 crore, was entirely a fresh issue of 3.2 crore equity shares. Arkade Developers, known for its high-end residential projects in Mumbai, plans to utilize the funds for ongoing project development, land acquisition, and general corporate purposes.

Despite the strong debut, Kejriwal cautioned investors to be mindful of potential post-listing volatility. “One should book profit and exit after listing as there can be sharp downside post-listing, as we witnessed in recently listed stocks,” he advised.

The IPO was open for subscription from September 16 to 19, with allotment finalized on September 20. Arkade Developers shares began trading on both the BSE and NSE on September 24.

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