Get All Access for $5/mo

Arkade Developers Limited Files DRHP With SEBI The company proposes to utilize the net proceeds towards development of their ongoing projects, and their upcoming projects; and funding acquisition of future projects

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Arkade Developers Limited, leading real-estate developer in Mumbai, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). The Company's initial public offering comprises a fresh issue of INR 430 crore.

The company proposes to utilize the net proceeds towards development of their ongoing projects, and their upcoming projects; and funding acquisition of future real estate projects and general corporate purposes.

Arkade Developers is concentrated on the development of premium aspirational lifestyle residential premises and has a significant presence in Mumbai, Maharashtra. The company also claims that it has developed 1.80 million square feet of residential property (including through partnership entities in which Arkade holds the majority stake) as of 31 July 2023.

The revenue of Arkade Developers saw a significant jump from INR 113 crore in 2021 to INR 237 crore in fiscal year 2022. The revenue declined marginally during the fiscal year ending March 2023 which stood at INR 224 crore. The revenue from operations has grown at a CAGR of 26.69% between 2021 and 2023, added the statement.

"Unistone Capital is the sole Book Running Lead Manager (BRLM) to the issue. The equity shares of the company will be listed on BSE and NSE," said the company.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Leadership

ITC's Marketing Wizard: Shuvadip Banerjee, Chief Digital Marketing Officer

The FMCG giant's successful campaign #MyFantasyAdWithSRK broke the Internet and in just a few weeks of launch had 10 lakh participants

News and Trends

Empowering MSMEs: Unlocking India's Trillion-Dollar Manufacturing Potential

By empowering MSMEs, India can realize its vision of a robust trillion-dollar manufacturing sector, fueling economic prosperity and sustainable development

Business News

Is One Company to Blame for Soaring Rental Prices in the U.S.?

The FBI recently raided a major corporate landlord while investigating a rent price-fixing scheme. Here's what we know.

News and Trends

Easing the stress with new-age health solutions

With rapid scaling and idea-making seen in the Indian eco-system, it is only speculated that the now-easily accessible healthcare systems will try to reach further depths of the country.

Side Hustle

This Former Starbucks Employee Started a Side Hustle That's Making More Than $70,000 a Month — and He's Not Done Yet

When Tom Saar moved to New York City, he spotted a lucrative business opportunity.

Business News

Microsoft Reportedly Lays Off Over 1,500 Employees in Cloud Sector as Partnership with OpenAI Strengthens

Alphabet also reportedly laid off employees from several teams in Google's cloud unit last week.