Strong demand for Northern Arc, Arkade, Western Carriers IPOs
initial public offerings (IPOs) — Northern Arc Capital, Western Carriers India, and Arkade Developers — that closed for subscription on Thursday received strong investor interest.
Northern Arc Capital's ₹777-crore IPO was subscribed 110.91 times, attracting bids worth ₹62,553 crore. The issue received bids for 238.22 crore shares against the offered 2.14 crore shares, excluding anchor investors. The IPO, priced at ₹249-263 per share, comprised a fresh issue of ₹500 crore and an offer for sale of 1.05 crore shares.
Arkade Developers' ₹410-crore IPO was subscribed 106.83 times, with the issue priced at ₹121-128 per share.
Western Carriers India's ₹493-crore IPO was subscribed 30.57 times. The issue, priced at ₹163-172 per share, included a fresh issue of ₹400 crore and an offer for sale of 54 lakh shares.
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