New Delhi: IPO Listing: IPOs of three companies were listed in the stock market today. These include Northern Arc Capital Limited, Arkade Developers and Western Carriers. Northern Arc and Arkade Developers gave more than 30 percent profit to IPO investors on listing. On the other hand, Western Carriers was listed in the stock market with a discount and investors had to bear losses.

Arcade developers made profits

Arkade Developers has made a grand entry in the stock market. It was listed on the National Stock Exchange (NSE) at Rs 175 with a 36.7 percent premium and on the BSE at Rs 175.9 with a 37.4 percent premium. The issue price of Arkade Developers' IPO was Rs 128 per share. Its IPO was subscribed 106.83 times.

Real estate firm Arcade Developers has most of its operations in the Mumbai Metropolitan Region. It has developed several high-end luxury projects in South Mumbai. In the last two decades, the company has completed 28 projects. Of these, 17 are new and 11 are redevelopment projects.

Strong entry of Northern Arc

Northern Arc Capital made IPO investors happy with its listing today. Northern Arc Capital, formed in 2009, distributes retail loans. Its stock was listed on BSE at a price of Rs 351, which is 33.5 percent higher than the IPO price. Northern Arc's IPO came at a rate of Rs 263 per share.

IPO investors got a great listing gain of about 33.5 percent, but it was less than the estimates of the gray market. Northern Arc shares were trading at a premium of about 50 percent in the gray market. This IPO got a great response and it closed with about 110.71 times oversubscription.

Western Carriers incurred losses

Western Carriers provides logistics services to metal sector giants like Tata Steel and Vedanta. Its IPO also received a strong response. It was subscribed more than 31 times overall. But, its entry in the stock market was quite dull.

Western Carriers shares were issued at a price of Rs 172 under the IPO. Its entry on BSE was at Rs 170 and on NSE at Rs 171.00. This means that IPO investors did not get any listing gain, rather their original capital decreased. After listing, the trend of decline continued and the investors' loss reached about 5 percent.