Arkade Developers IPO
Arkade Developers IPO — date, price band, lot size & details 2024
Arkade Developers listed on 24 Sep 2024 at ₹175, 36.7% above the ₹128 issue price.
Arkade Developers is a Mumbai real estate developer focused on new projects and redevelopment of existing buildings in the western suburbs. Its total income was Rs 635.71 crore in FY2024.
Stock price
Arkade Developers is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 16 Sep 2024
- Close 19 Sep 2024
- Allotment 20 Sep 2024
- Refund/credit 23 Sep 2024
- Listing 24 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 19 Sep, 2024 |
|---|---|
| Price Band | ₹121 – ₹128 |
| Face Value | ₹10 |
| Lot Size | 110 Shares |
| Issue Size | ₹410 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 5.00 per share |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,080 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 110 shares at the ₹128 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 110 | ₹14,080 |
| Retail (max) | 14 | 1,540 | ₹1,97,120 |
| S-HNI (min) | 15 | 1,650 | ₹2,11,200 |
| S-HNI (max) | 71 | 7,810 | ₹9,99,680 |
| B-HNI (min) | 72 | 7,920 | ₹10,13,760 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 224.01 crore in FY2023 to Rs 635.71 crore in FY2024.
- 02Profit after tax rose from Rs 50.77 crore in FY2023 to Rs 122.81 crore in FY2024.
- 03The pre-issue P/E was 16.01 at the upper band of Rs 128, based on EPS of Rs 7.99.
- 04The whole Rs 410 crore issue was fresh capital for projects and land.
- 05Borrowing fell from Rs 149.00 crore on 31 March 2023 to Rs 69.41 crore on 31 March 2024.
Risks · 5
- 01Real estate income can be lumpy, as total income fell from Rs 237.18 crore in FY2022 to Rs 224.01 crore in FY2023.
- 02Its projects are concentrated in the Mumbai Metropolitan Region, where it sold 1,045 units since 2017, so a slowdown there would hit the business.
- 03Redevelopment needs consent from existing residents and approvals, which can delay projects such as its 10 completed ones.
- 04Rs 131.07 crore of the issue was for land not yet identified.
- 05Promoters and the promoter group held 85.58% before the issue and 70.82% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Arkade Developers offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 575.01 | 555.41 | 369.97 |
| Total Income | 635.71 | 224.01 | 237.18 |
| Profit After Tax | 122.81 | 50.77 | 50.84 |
| NET Worth | 323.40 | 200.32 | 149.50 |
| Reserves and Surplus | 171.40 | 198.32 | 147.49 |
| Total Borrowing | 69.41 | 149.00 | 64.41 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Arkade Developers RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Arkade Developers IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹7.99 | ₹6.61 |
| P/E Ratio (x) | 16.01 | 19.35 |
| Market Cap at Offer Price (₹ Cr) | ₹1,967.42 | ₹2,378.17 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹128 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹381.07 Cr of the issue is earmarked to named objects.
About the company
It develops new projects and redevelops existing buildings. As per Anarock, between 2017 and Q1 2024 it launched 1,220 residential units and sold 1,045 units in different MMR markets. It has completed 10 redevelopment projects in Mumbai's western suburbs.
Its promoter is Amit Mangilal Jain.
The IPO was Rs 410 crore and was entirely fresh issue. Rs 250.00 crore was planned for developing ongoing projects such as Arkade Nest, Prachi CHSL and C-Unit, and the rest for land acquisition and general purposes.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Unistone Capital
17 issues handled (15 mainboard, 2 SME)Best listing: Sigachi Industries (+249.7%). Weakest: Fabtech Technologies (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Arkade Developers?
The current Grey Market Premium is ₹61, or 48% over the issue price.
What is the Arkade Developers IPO price band?
₹121 to ₹128, on a face value of ₹10.
When is the allotment?
The basis of allotment is 20 September 2024, with listing on 24 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
