The IPO (initial public offering) of Arkade Developers, a real estate development company, has generated significant interest among investors. The bidding period for this IPO ended recently, and many are now waiting for the allotment results, expected today, September 20.
Key Dates
The Arkade Developers IPO opened for subscription from September 16 to September 19. Today, September 20, is the day when the allotment of shares will be finalized. Those who are successful in their applications will have their shares credited to their demat accounts by September 23. Meanwhile, investors whose applications were not accepted will receive their refunds on the same day.
The listing of Arkade Developers shares on the stock exchanges, BSE and NSE, is scheduled for September 24. This listing is highly anticipated due to the strong demand the IPO has seen.
How to Check Allotment Status
If you applied for shares in the Arkade Developers IPO, you can easily check your allotment status online. Here are the steps for checking your status through two different platforms:
1. Checking on the BSE Website:
- Visit the BSE website at BSE Application Status.
- Select ‘Equity’ as the issue type.
- Choose ‘Arkade Developers Limited’ from the dropdown menu.
- Enter your Application Number or PAN (Permanent Account Number).
- Tick the box that says ‘I am not a robot’ and click on ‘Search’.
You will see your allotment status displayed on the screen.
2. Checking on Bigshare Services:
- Go to the Bigshare Services website at Bigshare IPO Status.
- Select ‘Arkade Developers Limited’ from the company dropdown.
- Choose your selection type: Application No., Beneficiary ID, or PAN.
- Fill in the required details.
- Enter the Captcha code and click on ‘Search’.
Your allotment status will be shown on the screen.
The Arkade Developers IPO has been a hit among investors. It was subscribed an impressive 106.83 times overall. Specifically, the retail portion was subscribed 51.39 times, while the Non-Institutional Investors (NII) category was booked 163.02 times. The Qualified Institutional Buyers (QIBs) segment was also in high demand, with a subscription rate of 163.16 times.
Currently, Arkade Developers shares are trading at a premium in the grey market. The grey market premium (GMP) for Arkade Developers today is ₹86 per share. This means that shares are expected to list at around ₹214 each, which is 67% higher than the IPO price of ₹128 per share.
Arkade Developers raised ₹410 crore through this IPO, which consisted entirely of a fresh issue of 3.2 crore equity shares. The price band for the IPO was set between ₹121 and ₹128 per share, making it accessible to a wide range of investors.
Unistone Capital Pvt Ltd acted as the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd served as the registrar for the issue.
As the allotment date arrives, investors are eager to find out if they will receive shares in Arkade Developers. The significant subscription rates and positive grey market activity indicate strong investor interest. Keep an eye on your allotment status and prepare for the listing next week, as many hope to benefit from this promising investment opportunity.