IPO

Arkade Developers Limited IPO

Mainboard

Residential, Commercial Projects

Listed On: Sep 24, 2024 at ₹ 175.0(NSE)

₹ 14080 /110 Shares

Check Allotment

16 Sep, 2024

Open Date

19 Sep, 2024

Close Date

20 Sep, 2024

Allotment Date

24 Sep, 2024

Listing Date
Price Summary

Last Closing

174.80 (36.56%)

52 Week High

213.69

52 Week Low

128.15

Last Update

31-Oct-2025 3:30 PM
Arkade Developers IPO Issue Details
  • Issue Price ₹121-128 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 3,20,31,250 shares(aggregating up to ₹410 crore)
  • Fresh Share 3,20,31,250 shares(aggregating up to ₹410 crore)
  • Listing at BSE, NSE
  • List Price 175.0(NSE)
  • Listing Date 2024-09-24
  • Lead Manager Unistone Capital Pvt Ltd
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 110 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min) 1110₹14,080
Retail(max)141540₹1,97,120
Arkade Developers IPO Reservation

Arkade Developers IPO offers total 3,18,75,000 shares. Out of which 63,75,000 (20%) allocated to QIB, 47,81,250 (15%) allocated to NII,1,11,56,250 (35%) allocated to RII, NA (NA%) allocated to employees and 95,62,500 (30%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered95,62,500 (30%)
QIB Shares Offered63,75,000 (20%)
NII (HNI) Shares Offered47,81,250 (15%)
bNII < ₹10L31,87,500 (10%)
sNII < ₹10L15,93,750 (5%)
Retail Shares Offered1,11,56,250 (35%)
Total Shares Offered3,18,75,000 (100%)
Arkade Developers IPO Documents
DRHP
RHP
ANCHOR
Arkade Developers IPO Details


Arkade Developers IPO is a book-built issue of ₹410 crores, The total issue size is ₹410 crores. The IPO of Arkade Developers is priced at ₹121-128 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 16, 2024 and ends on Sep 19, 2024. The allotment for Arkade Developers IPO will be finalized on Sep 20, 2024. Arkade Developers IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 24, 2024. The company shall list its equity shares on the BSE, NSE. Bigshare Services Pvt Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 110 shares, extendable to 14,080. The book-running lead manager for the IPO is/are Unistone Capital Pvt Ltd.

The total issue ₹410 crore, comprising a fresh issue of 3,20,31,250 shares ₹410 crore
The Arkade Developers IPO sets its price band at 121-128 for each share. A single application for Arkade Developers Limited IPO must contain at least 110 shares. Sentiment investors need to invest a minimum of 110 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,080

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Arkade Developers IPO Subscription Analysis And Details
Retail
49.81x
QIB
163.16x
NII
162.35x
bNII
160.65x
sNII
165.75x
Total
105.89x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved6,375,0004,781,250
3,187,500    1,593,750		11,156,25022,312,500
Day 1 16-09-24 05:00 PM
0.23 x7.77
5.49 x   12.34 x		7.98 x5.74 x
Day 2 17-09-24 05:00 PM
0.44 x28.27
21.85 x   41.10 x		20.00 x16.21 x
Day 3 17-09-24 05:00 PM
0.61 x58.83
49.14 x   78.21 x		33.28 x29.44 x
Day 4 18-09-24 05:00 PM
163.16 x162.35
160.65 x   165.75 x		49.81 x105.89 x
Total No of Applications
49,56,714
Subscription on the basis of Applications
Retail:47.89x BHNI:33.1x SHNI:165.7x
Arkade Developers Valuations
EPS Pre IPO 7.99
EPS Post IPO 6.61
P/E Pre IPO 16.01
P/E Post IPO 19.35
ROE 46.90%
ROCE 47.34%
Debt/Equity 0.21
RoNW 46.90%
PAT Margin 19.35
Price to Book Value 6.02
Arkade Developers Company Financials
In Crs.
In Cr.
31-Mar-2431-Mar-2331-Mar-22
Assets575.01555.41369.97
Revenue635.71224.01237.18
Profit After Tax122.8150.7750.84
Net Worth323.4200.32149.5
Reserves & Surplus171.4198.32147.49
Total Borrowing69.41149.0064.41
About Arkade Developers Company

Arkade Developers is a real estate development company whose operations are concentrated on the development of premium residential premises in Mumbai, Maharashtra. As of July 31, 2023, they have developed over 1.80 million square feet of residential property (including via partnership entities in which they hold the majority stake). They are engaged in both the development of new projects and the redevelopment of existing premises. Between 2017 and Q1 FY 2023, they launched 1,040 residential units and sold 792 residential units in different markets in the Mumbai Metropolitan Region (MMR), Maharashtra.

They are currently developing projects that have a very broad per-unit price point, ranging from ₹9.44 million to ₹62.53 million. While their initial projects were stand-alone residential buildings, their portfolio of ongoing projects includes gated communities such as Arkade Nest, Arkade Crown and Arkade Aspire, Arkade Prime, and Arkade Aura. They are currently developing approximately 2 million square feet across five ongoing projects and 2 upcoming projects for which development agreements have been executed already.

Between calendar year 2017 and Q1 FY 2023, the MMR territory has contributed the highest share of annual sales of residential units across the top seven cities in India, ranging from 27% to 32%. Therefore, the company is strategically placed to access a large part of the real estate development market in India.

In the last two decades, the Company has completed 28 projects including 11 projects on a standalone basis including 2 projects executed through partnership firms in which the Company held a majority stake, 8 projects executed by the promoter through his proprietorship, M/s Arkade Creations, and 9 projects through joint development agreements with other third parties with a total built-up area of more than 4.5 million square meters awarded to more than 4,000 customers.

As of June 30, 2024, the company had 201 permanent employees and an additional 850 employees on a contract basis as of June 30, 2024.

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Arkade Developers - Promoter(s)

Mr. Amit Mangilal Jain

Pre Issue Share Holding : 85.58%

Post Issue Share Holding : 70.82%

Arkade Developers IPO - Issue Objectives
1

Funding is part of the costs to be incurred in developing the Ongoing Projects (viz. Arkade Nest, Prachi CHSL, and C-Unit) (Funding Development Expenses).

2

Funding acquisition of yet-to-be-identified land for real estate projects and general corporate purposes.

Arkade Developers IPO - Anchor Investors

Arkade Developers IPO: Real Estate developer raises nearly ₹122.4 crore in anchor book.

The investor pool in Arkade Developers' anchor round includes Stern Global, BNP Paribas, Intuitive Alpha investments, Saint Capital, Societe Generale, NAV Capital, Visionary Value Fund, Gagandeep Credit Capital and Rajasthan Global Securities, according to the exchange filing.

Arkade Developers IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Arkade Developers Limited8.088.0821.28N/A46.9N/AConsolidated
Keystone Realtors Limited9.859.82157.8174.856.4N/AConsolidated
Godrej Properties Ltd26.0926.08359.4111.537.76N/AConsolidated
Macrotech Developers Limited16.0315.99180.878.4610.32N/AConsolidated
Suraj Estate Developers Limited19.3919.39148.340.9222.97N/AConsolidated

Notes:

  1. NAV is computed as the closing net worth (sum of equity share capital and other equity) divided by the weighted average outstanding number of equity shares as on March 31, 2024.
  2. The P/E Ratio has been computed based on the closing market price of equity shares on August 30, 2024, on www.bseindia.com, divided by the Diluted EPS as on March 31, 2023.
  3. RoNW is computed as net profit after tax and minority interest divided by average net worth. Net worth has been computed as the aggregate of share capital and reserves and surplus. In case the net worth is negative for a particular year, the same has not been considered.
Strength
The company is strategically located in one of the most high-value real estate markets in India. Within this market, they are focused on projects that are premium properties, i.e. higher on the value chain. Therefore, they are very well placed in the market and have a strong brand for premium quality.
The company’s promoter is a second-generation real estate entrepreneur with 20 years of experience. His family has been in this business since 1986.
They have built major in-house resources, including their legal team, business development, purchase and contracts, and sales and marketing teams.
Weakness
The risk of not being able to complete projects on time is significant in the real state development market as it increases the scope of the volatility in the prices of both land and raw materials. It also tarnishes the image of the developer and may activate the effects of penalty clauses.
The company does not enter into any long-term agreements for the supply of labour and key materials for the construction of projects. Therefore, there is the risk of a significant increase in prices or the shortage of labour or key materials for construction.
Contact Details

Arkade Developers

Arkade House, Opp. Bhoomi Arkade, Near Childrens Academy, Kandivali (East), Mumbai - 400101

+91 22 2887474

cs@arkade.in

http://www.arkade.in/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

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