Another company has entered the stock market on 24 September 2024. Arkade Developers IPO was listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The stock was listed at a 38 percent premium compared to the IPO. The stock was listed on the stock exchange BSE at a price of Rs 175.9.

The IPO of real estate company Arkade Developers was open from 16
to 19 September. This IPO received a strong response during the bidding process. Arkade Developers' IPO was booked more than 106.83 times. On the last day, investors placed bids for 254 crore shares as against 2.37 crore shares.


IPO Details
Arkade Developers had set a target of raising Rs 410 crore through its IPO, which included a fresh issue of 3.2 crore shares. The price band of the IPO was fixed at ₹ 121 to ₹ 128 per share. The minimum lot size for retail investors was fixed at 1 lot or 110 shares.

Company has a strong hold in Mumbai
Fast-growing real estate development firm Arkade Developers has a strong hold in Mumbai. As of July 31, 2023, it has successfully developed 1.80 million sq ft of residential property, including development done through partnership entities. However, Arkade has a higher share in it. From 2017 to Q1 2023, the company has offered 1,040 residential units in different markets of Mumbai Metropolitan Area (MMR) in Maharashtra and sold 792 residential units.

Company's revenue in 2023 is Rs 224.01 crore
Arkade Developers' revenue was Rs 224.01 crore in financial year 2023. It was Rs 237.18 crore in financial year 2022 and Rs 113.18 crore in 2021. According to the Red Herring Prospectus (RHP), Keystone Realtors Limited is the listed peer of the company, and its P/E ratio is 74.85. Godrej Properties Limited, which is another listed peer, has a P/E ratio of 111.53, Macrotech Developers Limited has a P/E ratio of 78.46. Suraj Estate Developers Limited, which is the last listed peer, has a P/E ratio of 40.92.