Arkade Group IPO Real Estate Company Plans For 600 Crore Rupees IPO Around March 2024

Arkade Group IPO: Mumbai-based real estate developer Arcade Group is planning to raise Rs 600 crore, for which the company is planning to bring an initial public offering (IPO). Giving information, the company said that 20 percent of the shares in the IPO will be kept for the promoters.

After 20 per cent reduction in promoters’ shares, the company’s value will be around Rs 3000 crore. According to a report in Business Line, Amit Jain said that the total amount to be raised will also include pre-IPO placement to some strategic investors. The company is focusing on the local realty segment.

300 crore investment for 4 projects

The company has recently invested Rs 300 crore for 4 new projects. Under this, the total development area is 14.8 lakh square feet. Under this project, the potential of generating revenue of 1,525 is being considered. It is currently implementing projects of 12 lakh sq ft, from which it is expected to generate revenue of Rs 1,200 crore.

When plan to bring IPO

Amit Jain informed that the IPO is expected to be launched around March 2024. The funds raised from this IPO will be used for the company. Jain said that with the help of this fund, the area of ​​the company will be expanded and on that basis the price of houses will be kept from affordable to premium. Let us tell you that the company has been in existence for more than three decades and has delivered 25 projects and 4,000 units in an area of ​​more than 40 lakh square feet.

Many companies are planning to raise funds

In recent months, many real estate companies have been turning to raise funds. Many real estate companies are turning to equity capital markets to raise funds. Real estate developers have traditionally relied on debt funding and construction finance. Companies of real estate developers are raising options to raise better funds.

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