Since Arkade Developers announced to make its entry into the stock market by opening its Initial Public Offering on Monday, September 16, 2024, this particular IPO has been the subject of investor’s curiosity as they are anticipating a good premium on its listing day. As the listing date of the Arkade Developers IPO has reached, the investors are quite optimistic about an impressive listing gain with the Arkade Developers shares. In the wake of green indications from the Grey Market Premium, Arkade Developers is poised to make a rocking entry into the stock market. However, the investors are majorly focused on the share performance on its first trading day. In case, you are also eagerly waiting for the listing of Arkade Developers Stock, then this article is for you. Here, we have provided an insight into its IPO phase and investors’ interest in it. Delve into the details. Drag down the page.
Arkade Developers IPO’s Overview
Notably, Arkade Developers is one of the leading companies in the Mumbai real estate business. With the announcement of its IPO, this company sparked a wave of buzz ahead of its entry into the stock market through the Bombay Stock Exchange and the National Stock Exchange. The IPO was opened for subscription on Monday, September 16, 2024, and closed on Thursday, September 19, 2024. During this period, the IPO received an unprecedented response from the investors. Meanwhile, the subscription rate of Arkade Developers IPO had reached 106.83 times by the end of this phase. The Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) showed substantial interest in it, as they alone subscribed to it 163.16x and 163.02x while the retail investors subscribed to it 51.39x. The price band of the IPO was set between the range of Rs 121 and Rs 128 per share.
- IPO Open Date: September 16, 2024
- IPO Close Date: September 19, 2024
- Shares Allotment: September 20, 2024
- Listing Date: September 24, 2024
- Price Band: Rs 121-128
Arkade Developers Shares Current Grey Market Premium
It is expected that the shares of Arkade Developers will be listed at an impressive premium. The grey market indicators are hinting at Arkade Developers shares would debut at the price of Rs 191 which is over 150 percent of the issue price. If the shares of Arkade Developers are listed at the current grey market premium, then the investors would gain 50 percent over the amount they invested in its IPO. The strong market sentiment for Arkade Developers is attributed to the strong bidding war between the investors during the IPO phase. In addition, the current market conditions also contribute to the robust sentiment. Kindly note that the GMP has been fluctuating every day. Currently, the GMP is at Rs 63 which was earlier Rs 86.
Technical Levels to Remember
The investors who are supposed to trade the shares of Arkade Developers on its first trading day are suggested to watch out for the technical levels before trading.
- Support Level: The first support level is expected around Rs 180. In case, the downward trend starts after the stock’s listing on BSE and NSE, then the support level would provide a cushion.
- Resistance Level: The initial resistance level might be set at Rs 200, as selling pressure is expected to increase as investors may book early profits.
- Target Price: Market experts suggested that the target price of Arkade Developers shares could hit the price of Rs 220 within the first few trading sessions if momentum continues positively.
Market experts and analysts have rated Arkade Developers positively and recommended that investors hold their positions for medium to long-term profits. Stay tuned to this website for more details and further updates.
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