Listing ceremony of Arcade Developers Limited took place on Bombay Stock Exchange.
Shares of Arcade Developers Limited, Northern Arc Capital Limited and Western Carriers Limited have been listed on the stock exchange today (September 24). Shares of Arcade Developers were listed on the National Stock Exchange (NSE) at ₹ 175.90, up 37.42% from the issue price of ₹ 128. Shares of Arcade Developers were listed on the Bombay Stock Exchange (BSE) at ₹ 175, up 36.72% from the issue price.
At the same time, the share of Northern Arc Capital was listed on BSE at ₹ 351, which is 33.46% higher than the issue price of ₹ 263. On NSE, this share was listed at ₹ 350, which is 33.07% higher than the issue price. Whereas, the share of Western Carriers Limited was listed flat. The share of Western Carriers was listed at ₹ 170 on BSE and at ₹ 171 on NSE. The issue price of the stock was ₹ 172.
IPOs of Arcade Developers and Northern Arc Capital were open from 16 to 19 September
The initial public offers (IPOs) of Arcade Developers and Northern Arc Capital were open from 16 to 19 September. The IPO of Arcade Developers was subscribed a total of 113.49 times. The issue was subscribed 53.78 times in the retail category, 172.60 times in qualified institutional buyers (QIB) and 172.22 times in the non-institutional investors (NII) category.
Whereas, the IPO of Northern Arc Capital was subscribed a total of 117.19 times. This issue was subscribed 32.01 times in the retail category, 242.73 times in QIB and 147.58 times in the NII category. At the same time, the IPO of Western Carriers Limited was open from 13 September to 19. This issue was subscribed a total of 31.69 times. This issue was subscribed 26.92 times in the retail category, 28.81 times in QIB and 46.68 times in the NII category.
1. Arcade Developers Limited: Issue was ₹410 crore
This issue of Arcade Developers Limited was of total ₹410 crores. For this, the company issued 32,031,250 fresh shares worth the entire ₹410 crores. The existing investors of the company did not sell even a single share through Offer for Sale i.e. OFS.
Retail investors could bid for a maximum of 1540 shares
Arcade Developers Limited had fixed the price band of this issue at ₹121-₹128. Retail investors could bid for a minimum of one lot i.e. 110 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹128, you would have had to invest ₹14,080 for it.
At the same time, retail investors could apply for a maximum of 14 lots i.e. 1540 shares. For this, investors would have to invest ₹ 197,120 according to the upper price band.
Arcade Developers is a real estate development company
Arcade Developers Limited is a real estate development company that mainly develops sophisticated lifestyle residential developments in Maharashtra. As of July 31, 2023, the company has built more than 18 lakh square feet of homes. This also includes projects that they have built in collaboration with other companies. From 2017 to the first quarter of 2023, the company has launched more than 1040 homes and sold 792 homes in Mumbai and surrounding areas.
2. Northern Arc Capital Limited: Issue was ₹777 crore
This issue of Northern Arc Capital was worth a total of ₹ 777 crores. For this, the company issued 19,011,407 fresh shares worth ₹ 500 crores. Whereas, the existing investors of the company sold 10,532,320 shares worth ₹ 277 crores through Offer for Sale i.e. OFS.
Retail investors could bid for a maximum of 741 shares
Northern Arc Capital Limited had fixed the price band of this issue at ₹249-₹263. Retail investors could bid for a minimum of one lot i.e. 57 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹128, you would have had to invest ₹14,991 for it.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 741 shares. For this, investors would have to invest ₹ 194,883 according to the upper price band.
3. Western Carriers Limited: Issue was ₹492.88 crore
This issue of Western Carriers was worth a total of ₹492.88 crores. For this, the company issued 23,255,813 fresh shares worth ₹400 crores. Whereas, the existing investors of the company sold 5,400,000 shares worth ₹92.88 crores through Offer for Sale i.e. OFS.
Retail investors could bid for a maximum of 1131 shares
Western Carriers Limited had fixed the price band of this issue as ₹163-₹172. Retail investors could bid for a minimum of one lot i.e. 87 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹172, then you would have to invest ₹14,964 for it.
At the same time, retail investors could apply for a maximum of 14 lots i.e. 1131 shares. For this, investors would have to invest ₹ 194,532 according to the upper price band.
Western Carriers was established in 2011
Western Carriers (India) Ltd. was founded in 2011. The company is a multi-modal, rail-focused 4PL asset-light logistics company. The company provides multi-modal logistics solutions across road, rail, water and air transport and a range of value-added services.
The company is headquartered in Kolkata. The company provides its services in metals, fast-moving consumer goods (FMCG), pharmaceuticals, chemicals, engineering, oil and gas as well as retail sectors.
Its clients are Tata Steel Limited, Hindalco Industries Limited, Jindal Stainless Limited, JSW Steel, Coated Products Limited, Bharat Aluminium Company Limited, Vedanta Limited and Hindustan Unilever Limited.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
Graphics Source: VaskarAssets
