Arkade Developers IPO Allotment: How to Check Status, Latest GMP, and Listing Date

Synopsis : The Arkade Developers IPO saw overwhelming interest from institutional and retail investors alike, with the allotment likely to be finalized by September 20. The company, which focuses on high-end residential projects in Mumbai, raised Rs410 crore through fresh equity shares, and investors can expect listing gains, with the latest GMP suggesting a 48% premium. Investors can check their allotment status via the BSE or Bigshare Services portal. Arkade Developers is scheduled to list on BSE and NSE by September 24.

The much-anticipated IPO of Mumbai-based Arkade Developers, which was open for bidding from September 16 to September 19, has concluded with a price band set at Rs121-128 per share and a lot size of 110 shares. The real estate company plans to raise approximately Rs410 crore through the fresh issuance of 3,20,310,250 equity shares. The IPO garnered significant interest, with an overall subscription of 106.83 times, driven primarily by qualified institutional bidders (QIBs) and non-institutional investors (NIIs). In this article, we’ll explore the allotment status, the grey market premium (GMP), and the expected listing date.

Allotment and IPO Details

Arkade Developers is scheduled to finalize the basis of allotment of its shares on Friday, September 20. Investors will likely receive notifications, alerts, or emails regarding the debit of funds or revocation of their IPO mandate by Monday, September 23 at the latest. The strong investor response, particularly from QIBs and NIIs, resulted in their quotas being subscribed 163.16 and 163.02 times, respectively. Retail investors and employees were also highly engaged, with their quotas subscribed 51.39 times and 50.49 times.

Grey Market Premium and Listing Expectations

The grey market premium (GMP) of Arkade Developers has fluctuated amid broader market volatility. Initially commanding a GMP of Rs85 per share when the bidding process began, the premium has since corrected to Rs60 per share, indicating a potential listing gain of about 48% for investors. The company is expected to list its shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 24, 2024.

Business and Future Prospects

Arkade Developers, known for its high-end residential developments in Mumbai and Maharashtra, operates in two primary segments: constructing new residential buildings and redeveloping existing structures. The company has established a strong presence in the Mumbai Metropolitan Region (MMR), with brokerage firms offering positive long-term outlooks on the IPO. Analysts highlight Arkade’s leadership in the market, time-bound project delivery, and experienced management as key strengths. However, concerns about ongoing litigation, rising construction costs, and reliance on third-party contractors remain.

How to Check Arkade Developers IPO Allotment Status

Investors can check the allotment status of their IPO applications through either the BSE website or Bigshare Services, the official registrar of the issue.

To check via BSE:

Visit the BSE website: BSE Allotment Check

Select "Equity" under the issue type.

Choose "Arkade Developers Limited" from the issue name dropdown.

Enter your application number and PAN card ID.

Complete the captcha verification and hit submit.

To check via Bigshare Services:

Visit the Bigshare Services portal: Bigshare IPO Status

Select "Arkade Developers" from the dropdown menu.

Choose one of the following: Application number, Beneficiary ID, or PAN ID.

Enter the required details.

Fill in the captcha for security and click "Search" to view your allotment status.

Registrar Responsibilities

Bigshare Services, a Sebi-registered entity, is responsible for managing the IPO allotment process. The registrar handles tasks such as electronic credit of shares to successful applicants, dispatching refunds, and responding to investor queries. Investors can reach out to Bigshare for assistance if needed.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Investors are encouraged to perform their due diligence and consult financial advisors before making investment decisions.