Arkade Developers is scheduled to hit the market on September 16, 2024 and close on September 19, 2024. Arkade Developers plans to raise around ₹410.00 Cr through an IPO with a sale of up to 32,031,250 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Arkade Developers Limited is a real estate company that builds high-end residential projects in Mumbai, Maharashtra. The company focuses on two main areas: developing new residential buildings on land it has acquired and redeveloping existing buildings. From 2017 to the first quarter of 2024, Arkade launched 1,220 residential units and sold 1,045 of them across various markets in the Mumbai Metropolitan Region. By June 30, 2024, the company had developed a total of 2.20 million square feet of residential space.
Over the past 20 years, Arkade has completed 28 projects, which include 11 projects done independently and 2 projects through partnerships where it had a majority stake. Additionally, 8 projects were executed by the promoter through his own company, Arkade Creations, and 9 projects were completed through joint development agreements with other companies. The total built-up area from these projects exceeds 4.5 million square meters, serving more than 4,000 customers. As of June 30, 2024, the company employed 201 permanent staff and had an additional 850 contract workers.
Arkade Developers IPO Details
Arkade Developers IPO opens on September 16, 2024, and closes on September 19, 2024. The Listing date for Arkade Developers IPO is on September 24, 2024. The price band for IPO is ₹121 to ₹128 per share and lot size of 110 Shares.
| IPO Date | September 16, 2024 to September 19, 2024 |
| Listing Date | September 24, 2024 |
| Price | ₹121 to ₹128 per share |
| Lot Size | 110 Shares |
| Issue Size | ₹410.00 Cr |
| Face Value | ₹10 per share |
Arkade Developers IPO Tentative Timetable
Arkade Developers opening date is September 16, 2024 and close date is September 19, 2024. The IPO allotment date is September 20, 2024. Therefund initiation of IPO is on September 23, 2024. The credit of shares in demat account is on September 23, 2024. The listing date is on September 24, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 16, 2024 |
| IPO Closing | September 19, 2024 |
| IPO Allotment Date | September 20, 2024 |
| Refund Initiation | September 23, 2024 |
| Shares Credit to Demat | September 23, 2024 |
| Lisiting Date | September 24, 2024 |
Arkade Developers IPO Lot Size
Lot Size of this IPO is 110 shares. A retail-individual investor can apply for up to 14 lots (1540 shares or ₹197,120).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 110 | ₹14,080 |
| Retail(Maximum) | 14 | 1540 | ₹197,120 |
| S-HNI (Minimum) | 15 | 1,650 | ₹211,200 |
| B-HNI (Minimum) | 72 | 7,920 | ₹1,013,760 |
Arkade Developers IPO Promoter Holding
| Pre Issue Share Holding | 85.58% |
| Post Issue Share Holding |
Arkade Developers IPO Review
The company is launching its first book-building IPO, offering fresh equity shares worth Rs. 410 crore. This is approximately 32,031,250 shares at the highest price.
On the financial performance front, for the last three fiscals, the company has (on a consolidated basis) posted a total income/met profit of Rs. 237.18 cr. / Rs. 50.84 cr. (FY22), Rs. 224.01 cr. / Rs. 50.77 cr. (FY23), and Rs. 635.71 cr. / Rs. 122.81 cr. (FY24). After static performances for FY22 and FY23, it posted growth in FY24, indicating the likely trends ahead.
For the last three fiscals, the company has reported an average EPS of Rs. 5.71, and an average RoNW of 39.94%. The issue is priced at a P/BV of 6.02 based on its NAV of Rs. 21.28 as of March 31, 2024, and at a P/BV of 3.15 based on its post-IPO NAV of Rs. 40.58 per share (at the upper cap).
If we attribute FY24 annualized earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 19.34. The issue relatively appears reasonably priced in comparison to its listed peers.
The company reported PAT margins of 22.21% (FY22), 23.06% (FY23), 19.35% (FY24), and RoCE margins of 46.17%, 24.30%, 47.34% for the referred periods, respectively.
According to the offer document, the company has mentioned Keystone Realtors, Godrej Properties, Macrotech Developers, and Suraj Estate as its peers. Their price-to-earnings (P/E) ratios are 99.6, 73.2, 63.5, and 40.0 as of September 13, 2024. However, these companies are not exactly the same, so a direct comparison may not be fair.
The company is one of the top real estate developers operating in the MMR region. It showed steady performance in FY22 and FY23, but improved its numbers in FY24, suggesting positive trends for the future. Based on the earnings from FY24, the stock seems fairly priced. Investors might consider investing for the medium to long term.
Arkade Developers IPO Subscription Status (Bidding Details)
Table not foundArkade Developers IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Arkade Developers IPO FAQs
What is Arkade Developers IPO?
Arkade Developers is issuing 32,031,250 equity shares with a face value of ₹10 each, totaling up to ₹410.00 Cr. The shares are being offered at a price of ₹121 to ₹128 each, with a minimum order quantity of 110 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Arkade Developers IPO will open?
Arkade Developers will open on September 16, 2024 for QIB, NII, and Retail Investors.
When Arkade Developers IPO will end?
Arkade Developers will end on September 19, 2024.
What is Arkade Developers IPO Size?
Arkade Developers IPO size is ₹410.00 Cr.
What is Arkade Developers IPO Price Band?
Arkade Developers price band is ₹121 to ₹128 per share.
What is Arkade Developers IPO Allotment Date?
Arkade Developers allotment date is September 20, 2024.
What is Arkade Developers IPO Listing Date?
Arkade Developers listing date is September 24, 2024. The IPO is to be listed on BSE and NSE.
How to Arkade Developers IPO through Zerodha?
To apply for the IPO “Arkade Developers” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Arkade Developers IPO through Upstox?
To apply for the IPO “Arkade Developers” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Arkade Developers IPO Allotment Status?
For Arkade Developers IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Arkade Developers IPO GMP?
You can check out here: Arkade Developers IPO GMP. Check all IPO GMP here.