Arkade Developers submits ₹430 Cr IPO DRHP to Sebi

Vaibhav Jewellers sets IPO price at Rs 204-215 per share, raising Rs 270 Cr

Real estate stalwart Arkade Developers Limited has officially submitted its Draft Red Herring Prospectus (DRHP) to the esteemed Securities and Exchange Board of India (SEBI). In a strategic move, Arkade Developers aims to secure ₹430 crores through an Initial Public Offering (IPO). The allocated funds are earmarked for advancing ongoing and forthcoming projects, bolstering future acquisitions in the real estate sector, and addressing general corporate needs.

What sets this IPO apart is that it exclusively comprises a fresh issue of equity shares, devoid of any Offer For Sale (OFS) component. Arkade Developers’ commitment to pioneering development in the premium aspirational lifestyle residential sector distinguishes the company in Mumbai, Maharashtra.

As of July 31, 2023, Arkade Developers boasts a remarkable portfolio encompassing 1.80 million square feet of residential properties, including those developed in partnership with majority-held entities.

From 2017 through the quarter ending June 2023, Arkade Developers introduced 1,040 residential units to the market, with an impressive sales figure of 792 residential units across various locations within the Mumbai Metropolitan Region (MMR), Maharashtra. Their ongoing projects feature exclusive gated communities, such as Arkade Nest, Arkade Crown, Arkade Aspire, Arkade Prime, and Arkade Aura.

Arkade Developers reported substantial revenue growth, soaring from ₹113 crores in 2021 to ₹237 crores in the fiscal year 2022. Although the revenue experienced a slight dip in the fiscal year ending March 2023, settling at ₹224 crores, it has still managed to maintain a commendable Compound Annual Growth Rate (CAGR) of 26.69% between 2021 and 2023.

In a recent announcement, it was revealed that Unistone Capital assumes the role of the sole Book Running Lead Manager (BRLM) for this IPO. Investors can anticipate the company’s equity shares to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), ensuring a broad platform for potential investors.

Arkade Developers is undoubtedly making strides in the real estate sector, and this IPO is poised to be a significant milestone in their journey towards continued growth and excellence. Stay tuned for further updates as this promising venture unfolds.

About Arkade Developers:

Arkade Developers Pvt Ltd, established on May 13, 1986, is an unlisted private firm headquartered in Mumbai, Maharashtra. This company operates as a private limited entity, specializing in the creation of both residential and commercial real estate properties. The company has three promoters, namely Amit Mangilal Jain, Sandeep Jain Ummedmal, and Arpit Vikram Jain.

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