Arkade Developers IPO 2024 Highlights: Shares of Arkade Developers had a robust market debut on Tuesday, listing at a significant 36% premium to its IPO price of Rs 128 per share. The stock opened at Rs 175.9 on the exchanges and reached an intraday high of Rs 190 before closing at Rs 165.86 on the NSE. This strong performance reflects positive investor sentiment and confidence in the company’s growth prospects. The successful listing underscores Arkade Developers’ strong demand in the market, setting a positive tone for future trading sessions. As investors look to capitalize on the potential of this new entrant, market analysts will be keenly observing its performance in the coming days.
The three-day IPO has garnered significant interest, with overall subscription reaching 113.49 times. Retail investors subscribed to the issue 53.78 times, while institutional investors showed even stronger demand, subscribing 172.6 times. Non-institutional investors also participated actively, with their subscriptions at 172.22 times the total shares on offer.
Commenting on the Arkade Developers listing Anshul Jain, Head of Research, Lakshmishree Investment & Securities said that Arkade Developers made a robust debut, listing at a 40% premium to its issue price, in line with market expectations. As anticipated, initial profit booking led to some selling pressure, but volumes quickly dropped, indicating that selling momentum had dried up. This suggests that further downside may be limited in the short term.
Jain also added that the stock is likely to enter a consolidation phase, forming an IPO base over the next 16 weeks. Investors should watch for steadying patterns before any significant upward movement is expected. Arkade Developers' post-listing performance will be a key indicator for long-term prospects.
Shares of Arkade Developers are down by 1.2% from intra-day high trading at Rs 172.9 apiece on the NSE. The stock had initially listed at a 36.7% premium to its IPO price.
Arkade Developers shares touched an intraday high of Rs 190 after opening at a price of Rs 175. The stock fell as much as 165.50 during the trading hours. The company's shares have started trading in the secondary market on September 24. The company kept the IPO price band ranged between Rs 121 to Rs 128 per equity share.
Shares of Arkade Developers were trading 1.7% lower at Rs 171.91. The stock made debut at Rs 175, premium of 33% to the issue price.
Northern Arc Capital was listed at Rs 350 on the National Stock Exchange, a premium of 33% to the issue price. The IPO was subscribed to a total of 117.19 times more than the offered shares. The stocks of Northern Arc were attracting a premium of almost 50% in the grey market, hinting towards a strong debut in the secondary market. Investors watch out for the grey market premium to track the listing gains. It is an unofficial palace to trade shares.
Shares of Arkade Developers Ltd. are expected to list at over a 60% premium to the issue price of Rs 128 per share on Tuesday, September 24, driven by strong IPO subscription figures, according to experts.
According to stock market observers, Arkade Developer shares are trading at a Rs 64 premium in the grey market today. This suggests the Arkade Developer IPO Grey Market Premium (GMP) is Rs 64, indicating a potential listing price of around Rs 192 (Rs 128 + Rs 64). In other words, allottees could expect approximately a 50% listing gain from the Arkade Developer IPO.
A total of 2,23,12,500 shares were offered, allocated across various investor categories. Qualified Institutional Buyers (QIB) received 63,75,000 shares, while Non-Institutional Investors (NII) were allocated 47,81,250 shares. Within the NII category, small investors were offered 15,93,750 shares, and big investors received 31,87,500 shares. Retail investors were allocated the largest portion, with 1,11,56,250 shares.
Arkade Developers is set to list on Tuesday, September 24, alongside two other companies: Northern Arc Capital and Western Carriers. Northern Arc Capital's IPO coincided with Arkade Developers, opening and closing on the same dates. In contrast, Western Carriers opened its IPO on September 13 and closed on the same date.
The allotment status of the Arkade Developers IPO can be checked via BIG Share Services.
Retail investors can apply for a minimum of 1 lot, which consists of 110 shares, totaling Rs 14,080. They may also apply for a maximum of 14 lots, equating to 1,540 shares, amounting to Rs 197,120. Small high-net-worth individuals (HNIs) can bid for a minimum of 15 lots (1,650 shares) and a maximum of 71 lots (7,810 shares), totaling Rs 211,200 and Rs 999,680, respectively. Meanwhile, big HNIs can apply for a minimum of 72 lots (7,920 shares), which equals Rs 1,013,760. The issue price band is set between Rs 121 and Rs 128.
Arkade Developers Limited reported a remarkable revenue increase of 184% and a 142% rise in profit after tax (PAT) for the financial year ending March 31, 2024, compared to the previous year ending March 31, 2023.
Following the allotment of Arkade Developers' IPO on September 20, 2024, the Grey Market Premium (GMP) has held steady at Rs 63. With the IPO priced at Rs 128 per share, the expected listing price is projected around Rs 191, marking a 49.22% increase from the initial offer. As of September 23, 2024, both the GMP and estimated listing price remain unchanged.