How To Check Arkade Developers IPO Allotment Status — Latest GMP Details Here

The initial public offering of Arkade Developers Ltd. received a massive response from the investors. The IPO concluded on Thursday and was subscribed 106.83 times, led by demand from institutional and non-institutional buyers.

The Rs 410 crore IPO received bids for 2,54,00,26,280 shares against 2,37,75,719 shares on offer, as per NSE data.

The quota for non-institutional investors was subscribed 163 times while the portion for qualified institutional buyers (QIBs) received 163.16 times subscription. The category for retail individual investors (RIIs) garnered 51.39 times bidding. The employee portion was subscribed 50.49 times.

The 4-day IPO was subscribed 31.73 times on Wednesday. It was subscribed 17.41 times on Tuesday and 6.31 times on Monday, the first day of subscription.

The Mumbai-based realty player's maiden issue consists completely of a fresh issue of 3.2 crore shares, aggregating Rs 410 crore.

The allotment for Arkade Developers IPO will be finalised on Friday, September 20. The company is set to list on the BSE and the National Stock Exchange on Tuesday, September 24.

Investors who bid for the issue can check the allotment status on BSE and Bigshare Services Ltd.

• Visit the Bigshare Services website here.

• Select any one server link to check your IPO Allotment Status.

• Choose 'Arkade Developers Limited' from the list of IPOs listed in the dropdown. (The name will be displayed once the share allocation is finalised)

• Select either of Application Number/CAF No, Beneficiary ID or PAN to verify your allotment status.

• Enter the required information, i.e. your application number, PAN (Permanent Account Number) or Beneficiary ID.

• Enter the 'captcha' to verify that you are not a robot.

• Finally, click the 'Search' button to check your allotment status.

• Visit the BSE IPO allotment page here.

• Select the issue type as 'Equity'.

• Choose 'Arkade Developers Limited' from the Issue Name dropdown menu.

• Enter your Application number or PAN (Permanent Account Number).

• Complete the 'Captcha'.

• Click on the 'Search' button to view your allotment status.

• Download/print the allotment status for your records.

The grey market premium of Arkade Developers is Rs 61 as of 2:31 p.m. on September 20, implying a 47.66% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 189 per share.

GMP is not an official price quote for the stock and is based on speculation. 

The company has set a price band of Rs 121–128 per share with a face value of Rs 10 apiece for the issue. At the upper price band, the market cap of Arkade stands at over Rs 2,376 crore, according to NDTV Profit's calculations.

The minimum application lot size is 110 shares. The company raised Rs 122.4 crore from anchor investors ahead of its IPO. It allotted 95.6 lakh shares at Rs 128 apiece to nine anchor investors.

Proceeds from the issue will be used to finance the costs to be incurred in the development of ongoing projects. Part of the proceeds will also be used for acquisitions of yet-to-be-identified land for real estate projects and general corporate purposes.

• Issue opens: Sept. 16.

• Issue closes: Sept. 19.

• Issue price: Rs 121–128 per share.

• Total issue size: Rs 410 crore.

• Fresh issue: Rs 410 crore.

• Bid lot: 110 shares.

• Listing: BSE and NSE.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.