Mumbai-based realty player Arkade Developers' IPO to open on September 16. Check details
IPO) of Mumbai-based realty player Arkade Developers will open for subscription on September 16. The issue, which is completely a fresh equity sale of Rs 410 crore, will close on September 18.
The price band for the issue will be announced soon.
In the public offer, about 50% is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
The company proposes to utilize the net proceeds towards development of their ongoing projects, and their upcoming projects and funding acquisition of future real estate projects and general corporate purposes.
Arkade Developers is a leading real estate development company with a significant presence in Mumbai. Its operations are concentrated on the development of premium aspirational lifestyle residential premises in the region.
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As of July 31, 2023, they have developed 1.80 million square feet of residential property (including
