IPO Details
Bidding Dates
16 Sept 24 - 19 Sept 24
Price Range ₹
121 - 128
Total Equity
₹ 304.33Cr
Lot Size
110
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
51.39×
Qualified Institutional Buyers
163.16×
Employees
50.49×
Retail Investors
51.39×
Total subscription Rate
106.83×
IPO Timeline
Offer start
16 Sept 2024
Offer end
19 Sept 2024
Allotment
20 Sept 2024
Refund initiation
23 Sept 2024
Demat transfer
23 Sept 2024
Listing
24 Sept 2024
Offer start
16 Sept 2024
Offer end
19 Sept 2024
Allotment
20 Sept 2024
Refund initiation
23 Sept 2024
Demat transfer
23 Sept 2024
Listing
24 Sept 2024
About Company
Arkade Developers Limited is a prominent real estate development firm specializing in upscale, sophisticated residential projects in Mumbai, Maharashtra. The company operates through two main segments: 1. Development/Construction of New Residential Projects: This involves acquiring land and constructing new residential buildings. 2. Redevelopment of Existing Buildings: This includes renovating and redeveloping older structures. From 2017 to Q1 2024, Arkade Developers launched 1,220 residential units and sold 1,045 units across various markets in the Mumbai Metropolitan Region (MMR), Maharashtra. As of June 30, 2024, the company has developed a total of 2.20 million square feet of residential space. Since its inception in CY 2003 until March 2024, the company has completed the redevelopment of 11 projects in the western suburbs of Mumbai and one project in south-central Mumbai, with a combined built-up area of approximately 1,000,000 square feet. These redevelopment projects were completed through partnerships where the company held a majority stake. Over the past two decades, Arkade Developers has successfully completed 28 projects. This includes 11 standalone projects, 2 projects through partnerships where the company held a majority stake, 8 projects executed through the promoter’s proprietorship under M/s Arkade Creations, and 9 projects through joint development agreements with other parties, covering a total built-up area of over 4.5 million square meters and serving more than 4,000 customers. As of June 30, 2024, the company employed 201 permanent staff and an additional 850 contract employees.
Year Founded
13-05-1986
Promotor Details
Amit Jain
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 85.58 | 0 |
| Share Capital | 131479848 | 0 |
Offer to Public
2,37,75,719.00 Cr
Project Details
- Funding Development Expenses - 2500cr
Objectives
- Funding a part of the costs to be incurred in the development of our Ongoing Projects (viz. Arkade Nest), and our Upcoming Projects (Funding Development Expenses)
- andFunding acquisition of yet-to-be identified land for real estate projects and general corporate purposes,
Highlights
- The company has expanded from standalone residential projects to include sophisticated gated communities, catering to a wide range of high-end residential needs.
- Arkade Developers manages all phases of project development internally, including land acquisition, legal issues, construction, and sales, which streamlines operations and ensures quality control.
- The dedicated project management team enhances efficiency by improving procurement processes, selecting reliable vendors, and effectively managing construction activities.
- With a focus on upscale residential projects, the company has developed a reputation for sophisticated and high-quality residential communities.
- The company has a successful history of completing numerous projects and developing a significant built-up area, demonstrating its capability and reliability in the real estate sector.
Challenges
- The company, its subsidiaries, promoters, and directors are involved in various ongoing legal proceedings. Adverse judgments in these cases could significantly impact the company's business prospects.
- A substantial portion of the company's revenue comes from redevelopment and new projects. In FY24, redevelopment projects contributed 33.15% and new projects 66.85% to revenue. Any challenges in securing new redevelopment projects or acquiring land for new developments could harm the company’s growth and financial performance.
- Arkade Developers' operations are concentrated solely within the Mumbai Metropolitan Region (MMR). Any negative developments in the real estate, social, or political environment in this region could adversely affect the company's business.
- Some of the company’s ongoing projects require regulatory approvals or permits. Delays or failures in obtaining these approvals can extend project timelines and negatively impact the company's operations and prospects.
- As of June 30, 2024, the company had outstanding loans totaling Rs 94.25 crore. Inability to service or repay these loans could have a detrimental effect on the company's financial health and operational stability.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2021 | 3,495.12 | 20.00 | 1,228.08 | 1,228.40 | 8.0816 |
| 2022 | 3,696.97 | 20.00 | 508.44 | 504.73 | 3.3206 |
| 2024 | 5,744.82 | 1,520.00 | 1,228.08 | 1,228.40 | 8.0816 |
| 2023 | 5,550.57 | 20.00 | 1,228.08 | 1,228.40 | 8.0816 |
