Arkade Developers Ltd IPO Timeline

Arkade Developers Ltd IPO opens on 16-Sep-2024, and closes on 19-Sep-2024. The Arkade Developers Ltd IPO bid date is from 16-Sep-2024 to 19-Sep-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Arkade Developers Ltd IPO Opening Date 16-Sep-2024
Arkade Developers Ltd IPO Closing Date 19-Sep-2024
Basis of Allotment 20-Sep-2024
Initiation of Refunds 23-Sep-2024
Credit of Shares to Demat 23-Sep-2024
Arkade Developers Ltd IPO Listing Date 24-Sep-2024

Arkade Developers Ltd IPO Lot Size

Arkade Developers Ltd IPO lot size is 110 shares. A retail-individual investor can apply for up to 14 lots (1540 shares or 197120).

Application Lots Shares Amount
Minimum 1 110 ₹14080
Maximum 14 1540 ₹197120

Arkade Developers Ltd IPO Details

Arkade Developers Ltd IPO Date 16-Sep-2024 to 19-Sep-2024
Arkade Developers Ltd IPO Face Value Shares of ₹10 per share
Arkade Developers Ltd IPO Price ₹121 to ₹128 per share
Arkade Developers Ltd IPO Lot Size 110
Issue Size Shares of ₹10 (aggregating up to ₹410 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹410 Cr)
Offer for Sale -
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Amit Mangilal Jain.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding Development Expenses
  • 2 Funding acquisition of yet-to-be identified land for real estate projects and general corporate purposes

Company Financials

Arkade Developers Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 555.15 233.65 54.86
03-2022 366.14 238.54 48.58
Amount in ₹ Crore
  • Strategic location of projects in micro markets of MMR, Maharashtra with entry barriers.
  • The Company is a leading player in select micro markets of, and an established developer in, the MMR, Maharashtra.
  • Experienced Promoter and strong and technically proficient management team.
  • Strong in-house resources.
  • Timely completion of projects.
  • The company may not be able to successfully identify redevelopment projects or identify and acquire suitable land for its proposed new projects which may have an adverse impact on the business and the growth of the Company.
  • Inability to complete the company projects by their expected completion dates or at all could have an adverse effect its business, results of operations and financial conditions.
  • The company is subject to penalty clauses under the agreements entered into with its customers for any delay in the completion of the company projects.
  • The company does not enter into long term agreements for supply of labour and key materials for construction of its projects. Any significant increase in the prices, or shortage of, or delay or disruption in supply of labour or key materials for the company construction may result in time or cost overruns and may impact of the business prospects.
  • The company relies on third party contractors whom its do not control to construct of the projects. Any delay or failure on the part of such contractors to adhere to their obligations could adversely affect the company financial condition and its business.
  • The company propose to deploy a part of the Net Proceeds towards acquisition of unidentified land and general corporate purposes. Its cannot assure you that the land that the company acquires will be viable or that the project developed on such land will be profitable. Further, if the company is unable to identify and, or, acquires suitable land required to develop new projects the company it could have an adverse impact on its financial condition, business and growth prospects.
  • The company revenue from operation is significantly dependent on its ability to sell the company units in a timely manner. If its are not able to sell of the project inventories in a timely manner, then it may adversely affect the company business, results of operations and financial condition.
  • The company operates in a competitive industry. Any inability to compete effectively may lead to a lower market share or reduced operating margins.
  • The COVID-19 pandemic adversely affects its business, financial condition, results of operations, cash flows, liquidity and performance, and it may reduce the demand for its projects in future.
  • Its entire business is concentrated within the MMR region. Any event or circumstance that adversely affects the real estate market in the MMR region will have an adverse effect on its business, results of operation and the company financial condition.
  • The company has had negative cash flows in the past and it may occur in future too.
  • Its operations are subject to varied business risks and the company insurance cover may prove inadequate to cover its economic losses.
  • Its future success will depends on the company ability to effectively implement its business and growth strategies failing which the company results of operations may be adversely affected.
  • The company has a large work force and its employee benefits expense is one of the larger components of its fixed operating costs. An increase in employee benefits expense could reduce its profitability. Further, the company operations could be adversely affected by work stoppages, shortage of labour, or increased wage demands by its employees or any other kind of disputes with the company employees.
  • The company intend to utilise a portion of the Net Proceeds for funding its development expenses requirements.
  • The objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution and are based on management estimates.
  • Some of its Ongoing Projects require it to obtain approvals or permits, and the company is required to fulfil certain conditions precedent in respect of some of them. Any failures to obtain the necessary approvals in time or at all may result in material delays in its Ongoing Projects and could have an adverse impact on the company results of operations and prospects.
  • Its redevelopment projects have long gestation periods and any delays and cost overruns could adversely affect its prospects, business and results of operations.
  • The Company has made delayed filings with the RoC and tax authorities and certain forms filed with RoC and certain payment challans in relation to the corporate filings made by the Company are not traceable. The Company has also delayed in making provident fund contribution and employee state insurance corporation contribution for its eligible employees during the last 3 Fiscals.
  • There are certain outstanding legal proceedings involving the Company, its Subsidiaries, the company Promoter, and its Directors, which, if determined against it, could have a material adverse effect on its business, cash flows, financial condition and results of operations.
  • The company is heavily reliant on its Promoters, Key Managerial Personnel, Senior Management and persons with technical expertise. Failures to retain or replace them will adversely affect its business.
  • Changing laws, rules and regulations and legal uncertainties, including adverse application of corporate and tax laws, may adversely affect its business, results of operations, cash flows and prospects.
  • Any failures to obtain, renew and maintain requisite statutory and regulatory permits, licenses and approvals for its operations from time to time may adversely affect the company's business.
  • Its inability to protect or use the company intellectual property rights may adversely affect the company's business.
  • Unsecured loans taken by the Company can be recalled by the lenders at any time.
  • The Company has in the past entered into related party transactions and may continue to do so in the future and its cannot assure you that the company could not have achieved more favourable terms if such transactions had not been entered into with related parties and that such transactions will not have an adverse effect on its financial conditions and result of operations.
  • The company has incurred indebtedness which exposes it to various risks which may have an adverse effect on its business, results of operations and financial conditions. Conditions and restrictions imposed on it by the agreements governing its indebtedness could adversely affect its ability to operate the company's business.
  • Its business operations are capital intensive and is significantly dependent on availability of real estate financing or internal accruals. Its may not be able to secure additional funding in the future. In the event the Company is unable to obtain sufficient funding, it may delay its growth plans and have a material adverse effect on the company's business, cash flows and financial condition.
  • The company has dues which are outstanding to its creditors. Any failures in payment of these dues may have a material adverse effect on its reputation, business and financial condition.
  • The company has issued equity shares pursuant to a bonus issue prior to the Issue, and its will be eligible to issue equity shares pursuant to a bonus issue only when the company has sufficient reserves.
  • Its Promoter has subscribed to, and purchased, Equity Shares, at a price which could be below the Issue Price. The average cost of acquisition of Equity Shares by its Promoter could also be lower than the Issue Price.
  • The company has licensed the use of its Registered and Corporate Office from which the company operates its business. The company cannot assure you that the license agreement will be renewed upon termination or that its will be able to obtain other premises on lease or license basis on same or similar commercial terms.
  • Majority of its independent directors does not have any experience of being a director in a listed company. This may require them to divert their attention from its business concerns to understand the detailed operations of a listed company.
  • Its may be unable to enforce its rights under some of the agreements executed by it on account of insufficient stamping.
  • Its Promoter will, even after the completion of the Issue, continue to be its largest Shareholder and can influence the outcome of resolutions, which may potentially involve conflict of interest with the other Shareholders.
  • Its Promoter and some of the company Directors may have interests in it other than reimbursement of expenses incurred and normal remuneration or benefits.
  • Its contingent liabilities could materially and adversely affect the company's business, results of operations and financial condition.
  • There are common pursuits amongst the Company and its Associates.
  • Its operations are heavily dependent on the real estate industry.
  • Sales of its projects may be adversely affected by the inability of the company prospective customers to obtain financing.
  • Health, safety and environmental matters, including compliance with environmental laws, could result in substantially increased capital requirements and operating costs.
  • Any failures of its information technology systems could adversely impact the company's business.
  • Its operations and the company workforce are exposed to various natural disasters, hazards and risks that could affect its business operations and the company reputation.
  • Any material deviation in the utilisation of Issue Proceeds shall be subject to applicable law.
  • Its business and growth plan could be adversely affected by the incidence and rate of property taxes and stamp duties.
  • The Company has not paid dividends in the last 3 Fiscals and during the current Fiscal. The company cannot assure you that the Company will be in a position to pay dividends in the future.
  • This Red Herring Prospectus contains information from an industry report prepared by Anarock which the company has commissioned and paid for.
  • The company has included certain non-GAAP financial and operational measures related to its operations and financial performance that may vary from any standard methodology that may be applicable across the industry in which the company operates, and which may not be comparable with financial, operational or industry related statistical information of similar nomenclature computed and presented by similar companies.
  • Continue to expand in the eastern region of MMR, Maharashtra.
  • Moving up the value chain to premium / luxury residential premises.
  • Continue to focus on its blended business model.

Arkade Developers Ltd IPO Promoter Holding

Pre Issue Share Holding 80.17%
Post Issue Share Holding 0%

Arkade Developers Ltd IPO Subscription Status (Bidding Detail)

The Arkade Developers Ltd IPO is subscribed - times on Sep 16, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - -

Arkade Developers Ltd IPO Prospectus

Arkade Developers Ltd IPO Listing Date

Listing Date 24 Sep 24
BSE Script -
NSE Symbol -
Listing In BSE, NSE
ISIN INE0QRL01017
IPO Price -
Face Value ₹10

Arkade Developers Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-62638200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Arkade Developers Ltd IPO Lead Manager(s)

  1. Unistone Capital Pvt Ltd

FAQs on Arkade Developers Ltd IPO

Arkade Developers Ltd IPO, which opens for subscription from 16-Sep-2024 to 19-Sep-2024 has an issue size of ₹410 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Arkade Developers Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Arkade Developers Ltd IPO Opens for subscription from 16-Sep-2024 to 19-Sep-2024.

The lot size of Arkade Developers Ltd is 110 shares. Retail investors can subscribe to minimum 1 lot and maximum 14 lots. The minimum and maximum application value is ₹14080 and ₹197120 respectively.

Allotment date for Arkade Developers Ltd is 20-Sep-2024 and refund of application amount (in case allotment is not received) will begin from 23-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 23-Sep-2024.

The registrar for Arkade Developers Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Arkade Developers Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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