IPO

Arkade Developers Limited IPO

Mainboard

Residential, Commercial Projects

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

₹ 14080 /110 Shares

Check Allotment

Price Summary

Last Closing

134.00 (4.69%)

52 Week High

190.00

52 Week Low

128.15

Last Update

22-Nov-2024 3:30 PM

Arkade Developers IPO Details

16 Sep, 2024

Open Date

19 Sep, 2024

Close Date

20 Sep, 2024

Allotment Date

24 Sep, 2024

Listing Date

Issue Price

₹121-128 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Bigshare Services Pvt Ltd

List Price

175.0(NSE)

Listing Date

2024-09-24

Market Lot

Retail : 110 Shares (₹14,080/-)
S-HNI : 1,650 Shares (₹2,11,200/-)
B-HNI : 7,920 Shares (₹10,13,760/-)

Lead Manager

Unistone Capital Pvt Ltd

Issue Size

32,031,250 shares(aggregating up to ₹410.00 Cr)

Retail Portion

35% (Number of Retail Applications: 1,01,420 Approx),
(Number of S-HNI Applications : 966 Approx),
(Number of B-HNI Applications : 1,932 Approx)

Subscription

105.89 times

IPO Docs

DRHP RHP ANCHOR

Arkade Developers IPO Subscription Details

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 PM0.23 x7.77
5.49 x   12.34 x		7.98 x5.74 x
Day 2 - 17-09-24 05:00 PM0.44 x28.27
21.85 x   41.10 x		20.00 x16.21 x
Day 3 - 17-09-24 05:00 PM0.61 x58.83
49.14 x   78.21 x		33.28 x29.44 x
Day 4 - 18-09-24 05:00 PM163.16 x162.35
160.65 x   165.75 x		49.81 x105.89 x
Total No. of Applications: 49,56,714 (Approx)
Retail Subscription on the basis of Applications: Retail:47.89x BHNI:33.1x SHNI:165.7x times

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

RoNW

46.90%

Arkade Developers Company Financials All values are in ₹ Cr.

31-Mar-2431-Mar-2331-Mar-22
Assets575.01555.41369.97
Revenue635.71224.01237.18
Profit After Tax122.8150.7750.84

About The 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 - Strength and Weakness

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.

Arkade Developers - Peers Comparison

P/B RatioP/E RatioRoNWNet Worth
Arkade Developers6.0219.3546.90%636
Keystone Realtors4.5199.26.40%2,372
Godrej Properties8.0471.56.79%2,839
Macrotech Developers6.8161.510.7%11,545
Suraj Estate6.7241.823.0%443

Arkade Developers - Promoter(s)

Pre Issue Share Holding: 85.58%

Post Issue Share Holding: N/A%

Company Promoter(s)

  1. Mr. Amit Mangilal Jain

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.

Other Details

Company Contact Details

Arkade Developers

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

Phone: +91 22 2887474

Email: cs@arkade.in

Website: http://www.arkade.in/

Registrar Contact Details

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Email: ipo@bigshareonline.com

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

Arkade Developers IPO - FAQs

Ans. Arkade Developers Limited IPO is a Mainboard IPO. The issue is priced at ₹121-128 per equity share. The minimum order quantity is 110 Shares. The IPO opens on Sep 16, 2024, and closes on Sep 19, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Arkade Developers Limited IPO opens on Sep 16, 2024 and closes on Sep 19, 2024.

Ans. The size of Arkade Developers Limited IPO is 32,031,250 shares(aggregating up to ₹410.00 Cr).

Ans. The IPO price band is set between ₹121-128 per equity share.

Ans. To apply for Arkade Developers Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find Arkade Developers Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of Arkade Developers Limited IPO is Sep 20, 2024.

Ans. The Arkade Developers Limited IPO will be listed on Sep 24, 2024.

Ans. Follow the steps to check the allotment status for Arkade Developers Limited IPO here.