Arkade Developers IPO Allotment On September 20: How To Check Application Status Online? GMP, Listing Details

Arkade Development Limited IPO: This company's public offer emerges as the highest-subscribed IPO in five years in the real estate sector, as the issue closed on September 19. On the final day, Arkade IPO received an oversubscription of a whopping 106.83x with the majority buying from QIBs and NIIs.

However, strong appetite was seen across investors. The next event in the IPO is the allotment status, followed by a listing on stock exchanges. The latest GMP hints at a strong debut.

Arkade IPO Subscription Status:

Cumulatively, Arkade Developers IPO received bids of 2,54,00,26,280 equity shares, against the offered size of 2,37,75,719 equity shares on the final day of the IPO. This is an oversubscription of 106.83x.

At the upper price band of Rs 128 per share, the bid received is worth Rs 32,512.34 crore. This is impressively higher than the offered size of Rs 410 crore.

Of the total bid size, the portion reserved for Qualified Institutional Buyers (QIBs) oversubscribed by 163.16x, while the portion of Non-Institutional Investors(NIIS) also oversubscribed by 163.02 points, and lastly the Retail Individual Investors (RIIs) oversubscribed the IPO by 51.39x.

The IPO was 100% book building, while its price band were Rs 121 to Rs 128 per share. The IPO opened on September 16 and continued till September 19.

Before the IPO, Arkade Developers raised about Rs 122.4 crore from 9 anchor investors at Rs 128 per share at the upper end of the price band. These anchor investors are Stern Global, BNP Paribas, Intuitive Alpha Investments, Saint Capital, Societe Generale, NAV Capital, Visionary Value Fund, Gagandeep Credit Capital and Rajasthan Global Securities.

What is next?

After the closing of the IPO, the company is most likely to carry the basis of allotment on September 20, followed by the initiation of refunds and credit of shares to the Demat account on September 23. The listing date is most likely to be on Tuesday, September 24, 2024.

How To Check Arkade Developers' IPO Allotment Status?

Investors can check their application status on BSE, NSE, and the registrar's website of the IPO aka Bigshare Services.

To check the application status on Bigshare Services - Click on the link below.

https://ipo.bigshareonline.com/IPO_Status.html

Once you open the link, select Arkade Jewellers in the IPO option in the link, and add either 'Application No' or 'Beneficiary ID', or 'PAN' - to check the status. Further, add the captcha code for verification and click on the 'Search' button to view the allotment status.

To Check Your Application Status On BSE. Click On the link below:

https://www.bseindia.com/investors/appli_check.aspx

Once directed to the page of IPO allotment of BSE, select ''Equity' under the option of 'Issue Type.' Select Arkade Developers IPO in the ''Issue Name' dropdown, and enter your PAN card details. Again, to complete the process, add captcha verification and click on 'Search' to view the status of your application.

Arkade Developers IPO GMP Today:

As per Investor Grain, Arkade Developers IPO last GMP is ₹60, last updated Sep 19th 2024 11:25 PM. With a price band of 128.00, Arkade Developers IPO's estimated listing price is ₹188 (cap price + today's GMP). The expected percentage gain/loss per share is 46.88%.

Arkade Developers Ltd. is a real estate development company concentrating on the development of premium aspirational lifestyle residential premises in Mumbai, Maharashtra, India's commercial capital.