Arkade Developers IPO : The initial public offering (IPO) of real estate company Arkade Developers Limited received 16.20 times subscription on Tuesday, the second day of share sale. According to data available with NSE, bids were received for 2,37,75,719 shares in the initial share sale against the offer of 2,37,75,719 shares.

How much Arkade Developers IPO was subscribed in which segment

The segment reserved for non-institutional investors received 28.26 times the subscription while the segment for retail individual investors (RIIs) received 19.99 times the subscription. At the same time, the category of qualified institutional buyers (QIBs) received 44 percent of subscriptions.

Arcade Developers raises Rs 122.40 crore from anchor investors

Arcade Developers raised Rs 122.40 crore from anchor investors ahead of the IPO opening. The company has set a price band of Rs 121-128 per share for its Rs 410 crore initial public offering. The initial share sale will close on September 19. The IPO is entirely a fresh issue of equity shares worth Rs 410 crore. It does not involve any offer for sale (OFS).

The proceeds from the issue will be used for the development of the company's existing and upcoming projects, acquisition of future real estate projects, and general corporate purposes.