Arkade Developers files DRHP for ₹430 -crore IPO
02 September 2023
Arkade Developers Ltd., a real-estate company from Mumbai, has filed its Draft Red Herring Prospectus with market regulator Securities and Exchange Board of India (SEBI) to raise crore thought an initial public offering (IPO). The company proposes to utilise the net proceeds towards development of its ongoing projects (viz. Arkade Nest), and their upcoming projects; and funding acquisition of future real estate projects and general corporate purposes. The company's operations are concentrated in the development of premium aspirational lifestyle residential premises in Mumbai, Arkade Developer's revenue in Fiscal 2023, Fiscal 2022 and Fiscal 2021 are 024 crore, 037 crore and crore respectively and revenue from operations has grown at a CAGR of 26.69% between Fiscal 2021 and Fiscal 2023, the company said.
Arkade Developers Ltd., a real-estate company from Mumbai, has filed its Draft Red Herring Prospectus with market regulator Securities and Exchange Board of India (SEBI) to raise crore thought an initial public offering (IPO). The company proposes to utilise the net proceeds towards development of its ongoing projects (viz. Arkade Nest), and their upcoming projects; and funding acquisition of future real estate projects and general corporate purposes. The company's operations are concentrated in the development of premium aspirational lifestyle residential premises in Mumbai, Arkade Developer's revenue in Fiscal 2023, Fiscal 2022 and Fiscal 2021 are 024 crore, 037 crore and crore respectively and revenue from operations has grown at a CAGR of 26.69% between Fiscal 2021 and Fiscal 2023, the company said.
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