Arkade Developers is into Real Estate Construction sector and is looking raise funds through Fresh Issue
IPO Summary
Arkade Developers IPO is a public offering of shares by Amit Mangilal Jain. The IPO will open on September 16 and will close on September 19. The price band is ₹121 to ₹128 per share and the lot size is 110 shares. The issue size is ₹410. crore. The shares are expected to be listed on NSE, BSE on September 24 (^). Some additional information that you may find useful are:- Financial Snapshot
- Revenue (Rs Crores): Rs 634.7 in FY24 (v/s Rs 220.1 in FY23 and v/s Rs 228.9 in FY22)
- EBITDA (Rs Crores): Rs 169.3 in FY24 (v/s Rs 68.3 in FY23 and v/s Rs 69.9 in FY22)
- EBITDA Margins (%): 26.7 in FY24 (v/s 31.0 in FY23 and v/s 30.6 in FY22)
- PAT (Rs Crores): Rs 122.8 in FY24 (v/s Rs 50.7 in FY23 and v/s Rs 50.8 in FY22)
- PAT Margin (%): 19.35 in FY24 (v/s 23.1 in FY23 and v/s 22.2 in FY22)
- Sales (No of Units): 257 in FY24 (v/s 258 in FY23 and v/s 87 in FY22)
- Collections (Rs Crores): 570.2 in FY24 (v/s 258.4 in FY23 and v/s 170.0 in FY22)
- RoE (%): 46.9 in FY24 (v/s 29.02 in FY23 and v/s 40.9 in FY22)
Also READ: Construction Company Arkade Developers files DRHP with SEBI for the proposed IPO; Key Details here
Promoters of the company are Amit Mangilal Jain Currently promoters hold 100% stake in the company. While post-equity promoters stake will be 70.82%
- Company aims to raise between Rs 410 to 410 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Funding Development Expenses to the tune of Rs270 crores 2) Funding acquisition of yet-to-be identified land for real estate projects and general corporate purposes
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 13-Sep-24.
- Price band for the IPO has been fixed at Rs 121 to 128 per share and bid lot are in multiple of 110 shares. The implied market cap post-issue at Rs 2,269 to 2,376 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on September 20 and share are expected to be listed on NSE, BSE on September 24.
- Company has direct competition in the Mumbai Real Estate construction market. It is competing with listed players including Keystone Realtors, Godrej Properties, Macrotech Developers, Kolte-Patil Developers amongst others.
- Unistone Capital has been appointed as Merchant Banker to the issue. Bigshare Services Pvt. Ltd. has been appointed as official registrar of the issue.
Key Pointers of Arkade Developers IPO:
| Arkade Developers Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 1986 | Mumbai | Real Estate | Construction |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh) | Book Building | 24-Sep-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 16-Sep-24 to 19-Sep-24 | ₹ 121 to 128 per sh | ₹ 10 per sh | 110 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
| 110 shares ₹ 14,080 | 1,540 shares up to ₹ 197,120 | 1,650 to 7,810 shares ₹ 211,200 to 999,680 | 7,920 shares and above ₹ 1,013,760 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Arkade Developers Limited
Established in 1986, Mumbai based property developer, Arkade Developer's operations concentrated on the development of premium lifestyle residential premises in Mumbai, As on FY23, Company developed 1.80million square feet of residential property (including through partnership entities in which company hold the majority stake). Company is engaged in the development of new projects and redevelopment of existing premises. During 2017 and Q1FY24, it launched 1,220 residential units and sold 1,045 residential units in different markets in the MMR. It also completed redevelopment of 10 projects in the western suburbs of Mumbai and 1 project in south-central Mumbai (through a partnership firm in which company hold the majority stake) with a combined constructed area of 1.0 million square feet (approx.).
- Financial Snapshot
- Revenue (Rs Crores): Rs 634.7 in FY24 (v/s Rs 220.1 in FY23 and v/s Rs 228.9 in FY22)
- EBITDA (Rs Crores): Rs 169.3 in FY24 (v/s Rs 68.3 in FY23 and v/s Rs 69.9 in FY22)
- EBITDA Margins (%): 26.7 in FY24 (v/s 31.0 in FY23 and v/s 30.6 in FY22)
- PAT (Rs Crores): Rs 122.8 in FY24 (v/s Rs 50.7 in FY23 and v/s Rs 50.8 in FY22)
- PAT Margin (%): 19.35 in FY24 (v/s 23.1 in FY23 and v/s 22.2 in FY22)
- Sales (No of Units): 257 in FY24 (v/s 258 in FY23 and v/s 87 in FY22)
- Collections (Rs Crores): 570.2 in FY24 (v/s 258.4 in FY23 and v/s 170.0 in FY22)
- RoE (%): 46.9 in FY24 (v/s 29.02 in FY23 and v/s 40.9 in FY22)
About Industry
Mumbai is one of the biggest and most expensive real estate markets in India. It has various micro-markets along with Mumbai City, suburbs, extended suburbs and neighbouring areas such as Thane and Navi Mumbai. Between 2017 and 2019, the housing market in MMR witnessed a gradual growth in both supply and absorption of housing units, with absorption numbers surpassing the new residential supply. During this period, MMR’s housing supply and absorption recorded respective increases of 45% and 42%. (Source: Anarock Report)
| Arkade Developers Limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 13-Sep-24 |
| IPO Open | 16-Sep-24 |
| IPO Close | 19-Sep-24 |
| Allotment | 20-Sep-24 |
| Credit of Shares | 23-Sep-24 |
| Refund | 23-Sep-24 |
| Listing | 24-Sep-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Arkade Developers Limited IPO - Management Details: | |
|---|---|
| Amit Mangilal Jain, Promoter and Managing Director He has been associated with the Company as a director since December 27, 1995. He holds a bachelors’ of science degree from the University of Mumbai. He is involved in the formulation of corporate strategy and implementation of the strategies. He is responsible for the planning and overall execution and management of the Company. He also looks after public relations and brand image of the Company. He is also a member of National Real Estate Development Council since 2019. | |
| Arpit Vikram Jain, Director He has been associated with the Company as a director since February 26, 2016. He holds a bachelors’ of commerce degree from the University of Mumbai. He has passed the final exam of Chartered Accountant. He has been heading the Accounts, Finance, Taxation, Sales, Marketing, CRM, HR and Administration departments of our Company. | |
| Samshet B Shetye, CFO He joined the Company on June 1, 2023. He has passed the final examination for bachelors’ degree in commerce from University of Mumbai. He is a chartered accountant and holds a certificate of membership from the ICAI since August 1, 2001. He is also a Company Secretary and holds a certificate from the Institute of Company Secretaries of India. He has been previously associated with FSN Ecommerce Ventures Limited as Assistant Vice President – Finance and Accounting, Tribhovandas Bhimji Zaveri Limited as Manager – Finance and Assistant General Manager – Accounting and Finance, A.S.A. Enterprises, Johannesburg as a Project Accountant, Gujarat Pipavav Port Limited as a Finance Consultant, DPSY and Greaves Cotton Limited as an Accounts Executive. | |
| Sheetal Haresh Solani , Company Secretary and Compliance Officer She was appointed as the Company Secretary and Compliance Officer of the Company through its board resolution dated May 17, 2023 with effect from May 22, 2023. She holds a bachelor’s of commerce from University of Mumbai. She has also passed the final exam of the LLB Degree from University of Mumbai. She is a member of the Institute of Company Secretaries of India. Prior to joining the Company, she was associated with Manish Ghia & Associates as Executive – Company Secretary from January 6, 2015 till April 7, 2018. She has also worked as the company secretary of Bajaj International Realty Private Limited and Opul Constructions Private Limited from April 9, 2018 till May 17, 2023. She has approximately 8 years of work experience. | |
Visit DRHP / RHP for more details on Board of Directors and Management details.
| Arkade Developers Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 15,934,324 | NA | 203.96 |
| Non-Retail (NII) | 15 | NA | 4,780,297 | NA | 61.19 |
| Non-Retail (NII): >Rs10L | NA | 3,186,865 | NA | 40.79 | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 1,593,432 | NA | 20.4 | |
| Retail | 35 | NA | 11,154,027 | NA | 142.77 |
| Employee | NA | 162,602 | 2. | 2. | |
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Arkade Developers Limited - IPO Merchant Bankers: |
|---|
| Unistone Capital |
| Arkade Developers Limited - IPO Registrar & Transfer Agent (RTA): |
|---|
| Bigshare Services Pvt. Ltd. E/2, ANSA INDUSTRIAL ESTATE, SAKI-VIHAR ROAD, SAKINAKA, ANDHERI (E) MUMBAI MAHARASHTRA 400072 |
Check IPO Allotment status of Arkade DevelopersIPO:
| Arkade Developers Limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Arkade Developers Limited - Documents | |
|---|---|
Disclaimer:
Above article only publishes details on the companies and about forthcoming / upcoming IPO' and are solely intended for educational purpose. We don't solicit or invite any interest of user to invest in any of the investment products. Please review DRHP/RHP/Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise users and/or investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
| Source: SEBI, BSE, NSE |
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