Arkade Developers IPO: People are investing heavily as there is a profit of ₹ 85 on every share

New Delhi. The Arcade Developers IPO, which opened this week, is getting tremendous support from investors. The issue was fully subscribed on the first day i.e. on September 16 and is continuously getting a good response. Today is the last day to invest in the IPO. Today, i.e. on September 19, till 10:40 am, the Arcade IPO had received 35.78 times subscription. The portion reserved for retail investors has received 37.41 times, the NII segment 78.79 times and the portion reserved for QIB has received 0.74 times bids. Even in the grey market, the unlisted shares of Arcade IPO are trading at a premium of 66 percent. Brokerage firm Choice Broking has advised to ‘subscribe’ this issue.

Arcade Developers Limited wants to raise a total of ₹410 crore from the market through this IPO. For this, the company is issuing 32,031,250 fresh shares worth the entire ₹410 crore. There is no offer for sale in the Arcade IPO. That is, the existing investors of the company are not selling their share.

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The price band is ₹121-₹128
The price band of Arcade Developers IPO has been fixed at ₹121-₹128. Retail investors can bid for one lot i.e. 110 shares. According to the upper price band, ₹14,080 will have to be invested for one lot. At the same time, retail investors can apply for a maximum of 14 lots i.e. 1540 shares. For this, investors will have to invest ₹197,120 according to the upper price band of Rs 128.

Arcade Developers IPO GMP
The listing of Arcade Developers IPO shares is getting a good response in the grey market. According to IPOwatch.in, a website that monitors the grey market, the GMP of Arcade shares has reached a premium of ₹ 85 per share. In such a situation, according to the upper price band of ₹ 128, its listing can be at ₹ 213. However, this can only be estimated, the listing price of the share may also be different from the grey market price.

Company Profile
Arcade Developers Limited is a real estate development company. As of July 31, 2023, the company has built more than 18 lakh square feet of houses. This also includes projects that they have built in collaboration with other companies. From 2017 to the first quarter of 2023, the company launched more than 1040 houses in Mumbai and surrounding areas and sold 792 houses.

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