Arkade Developers IPO: Public Offer Subscribed 24.23 Times on Day 2, NIIs Bid 43.60x
Day 2 Subscription Highlights:
- Public issue subscribed 24.23 times on the second day - NIIs bid 43.60x while retail investors bid 2.48x - QIB portion subscribed 43.85 times
Strong Investor Interest:
- Strong investor interest is evident in the oversubscription of the public issue, indicating confidence in the company's prospects - Institutional investors, including NIIs, have shown significant interest in the offering - Retail investors have also participated, albeit to a lesser extent, reflecting the company's appeal to a diverse range of investors
Detailed Subscription Data:
- Qualified Institutional Buyers (QIBs): 43.85 times - Non-Institutional Investors (NIIs): 43.60 times - Retail Individual Investors (RIIs): 2.48 times
Upcoming Events:
- The issue will close on March 24, 2023 - The basis of allotment is expected to be finalized on March 28, 2023 - The credit of shares to successful bidders will occur on March 29, 2023 - The shares are expected to be listed on BSE and NSE on March 31, 2023
Conclusion:
The strong subscription of Arkade Developers' IPO is a testament to the company's strong fundamentals and growth potential. The significant interest from institutional investors, particularly NIIs, is a vote of confidence in the company's business model and future prospects. Retail investors have also shown interest, providing a broad base of support for the company. The successful completion of the IPO will provide Arkade Developers with the necessary capital to fund its expansion plans and drive future growth.
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