Arkade Developers Ltd, a key real estate developer is set to drift its Rs.410-crore IPO - Initial public offering on September 16.
The initial offer deal will finish up on September 19, and the offering for anchor financial backers will open for a day on September 13, as indicated by the red herring prospectus - RHP.
The maiden public issue is completely through a new issue of value imparts worth Rs.410 crore to no make available for purchase (OFS) component.
Through a pre IPO placement round, the company has already received Rs.20 crore in funding.
Continues from the issue will be utilized for the advancement of the organization's progressing as well as impending tasks and financing the obtaining of future land undertakings and general corporate purposes.
Arkade developers is a quickly developing real estate development organization with a huge presence in Mumbai.
As of the month July 31, 2023, it has created 1.80 million square feet of private property, remembering through organization elements for which Arkade holds the greater part stake. The company launched 1,040 residential units and sold 792 residential units in various markets throughout the Mumbai Metropolitan Region (MMR) in Maharashtra between 2017 and the first quarter of 2023.
Arkade Designer's income in financial 2023, 2022 and 2021 remained at Rs.224.01 crore, Rs.237.18 crore and Rs.113.18 crore, separately. The only book-running lead manager (BRLM) for the issue is Unistone Capital. The company's equity shares will be listed on the BSE and NSE.
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