Arkade Developers IPO Listing/ Arkade Developers Share Price Updates 24 Sep 2024: Arkade Developers stock closes 6% lower on Day 1 after listing at 37% premium

Arkade Developers closing price update: Shares close close to 6% lower

Arkade Developers stock closed 5.46% lower at ₹165.45 on the NSE. 

On the BSE, the stock closed at ₹165.50, down by 5.91%,

Arkade Developers stock trades at ₹167.10 on the NSE, lower by 4.51% as at 3.04 pm.

Arkade Developers stock declined 2.06% on the NSE, trading at ₹171.40 as at 2 pm.

Arkade Developers stock slipped 0.74% on the NSE, trading at ₹173.70 as at 1.04 pm.

Arkade Developers stock price intraday: Arkade Developers stock slips over 1%

Shares of Arkade Developers traded at ₹172.85 on the NSE, lower by 1.24% as at 12.07 pm. 

On the BSE, the stock declined 1.82% to ₹172.70.

Arkade Developers shares jump over 37 pc in debut trade: PTI

Shares of Arkade Developers Ltd on Tuesday listed with a premium of over 37 per cent against the issue price of Rs 128.

The stock began the trade at Rs 175.90, up 37.42 per cent from the issue price on the BSE. Later, it surged 48.43 per cent to Rs 190.

At the NSE, shares of the firm listed at Rs 175, reflecting a jump of 36.71 per cent.

The company’s market valuation stood at Rs 3,232.40 crore.

The initial share sale of Arkade Developers got subscribed 106.40 times on the last day of the offer on Thursday.

The Rs 410-crore initial share sale had a price band of Rs 121-128 per share.

Proceeds from the issue will be used for the development of the company’s ongoing as well as upcoming projects, funding the acquisition of future real estate projects and general corporate purposes.

Arkade Developers is a fast-growing real estate development company with a significant presence in Mumbai.

PTI

Arkade Developers IPO listing update

Equity shares of Arkade Developers Ltd (Scrip Code: 544261) are listed and admitted to dealings on the Exchange in the list of ‘‘B’‘ Group Securities.

(BSE disclosure)

Arkade Developers stock trades at ₹175.82 on the NSE, up 0.47% as at 11.02 am.

Arkade Developers share price live: Arkade Developers shares gain 1%

Arkade Developers stock rose 1.29% to ₹177.26 as at 10.38 am.

Arkade Developers share price update: Arkade Developers stock declines 4%

Shares of Arkade Developers traded at ₹168.74 on the NSE, down by 3.58% as at 10.20 am.

Arkade Developers stock has hit today’s high on the NSE at ₹190.

Arkade Developers IPO listing today: Arkade Developers to be listed at the bourses today

The ₹410-crore IPO was entirely a fresh issue. According to Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, Arkade Developers Ltd, a real estate developer focused on premium residential projects in Mumbai, is set for a strong stock market listing. The IPO has garnered significant investor interest, evidenced by a robust subscription and a substantial grey market premium (GMP) of ₹63 (49.22%).

The portion reserved for qualified institutional buyers was subscribed 163.16 times, while the quota for non-institutional investors was subscribed 162.75 times and retail investors by 50.65 times.

The initial public offering (IPO) of Arkade Developers Ltd was fully subscribed on the first day of the share sale on Monday, and ended the day with 5.79 times subscription.

KS Badri Narayanan of businessline writes

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