Arkade Developers IPO:Arcade Developers Limited's IPO was subscribed 5.79 times on the first day of share sale on Monday. According to data available with NSE, bids were received for 13,76,23,090 shares against the offer of 2,37,75,719 shares in the initial share sale. The portion reserved for retail investors got 8.03 times subscription, while the portion for non-institutional investors was subscribed 7.89 times. At the same time, the category of qualified institutional buyers (QIB) got 24 percent subscription. Let us tell you that the shares of Arcade Developers Limited are in strong demand in the grey market and this stock is already trading at a premium of 68%.

What is price band

Let us tell you that the IPO of Arcade Developers Limited is open for investment from today 16 September and investors can invest in this issue till 19 September. Realty firm Arcade Developers Limited has raised Rs 122.40 crore from anchor investors. The company has fixed a price band of Rs 121-128 per share for its Rs 410 crore IPO. The IPO is entirely a new issue of equity shares worth Rs 410 crore. It does not include any sale offer (OFS). The company will use the funds raised from the IPO for the development of upcoming projects, acquisition of future real estate projects and general corporate purposes.

What is going on GMP?

According to Investorgain.com, Arcade Developers Limited IPO is available in the grey market at a premium of Rs 86. That is, the possible listing price of the company's shares can be Rs 214. According to this, if an investor gets this IPO allotted, then he can make a huge profit of about 68% on the very first day.