Mumbai: Northern Arc Capital IPO and Arkade Developers IPO are making a buzz in the grey market. Both the IPOs will get listed on BSE and NSE. The bidding for the public offers will end on September 19, 2024.
Northern Arc Capital IPO, a book built issue of Rs 777 crore, opened for subscription on September 16, 2024. On its first day of opening the initial public offer was subscribed 3.08 times; 4.09 times in the retail category, 0.02 times in QIB, and 4.66 times in the NII category. The last date to apply for the IPO is 19th September. The company offers loans to underserved households and businesses.
Northern Arc Capital IPO GMP, allotment
Northern Arc Capital IPO GMP stood at Rs 178 on early September 17 morning, investorgain reported. With the price band set at Rs 263, the shares are expected to list at Rs 441, which means a gain of around 67 per cent.
Northern Arc Capital IPO price band is fixed in the range of Rs 249 to Rs 263 per share. The investors are required to bid for a minimum lot size of 57 shares, while the minimum lot size investment for sNII is 14 lots, while bNII category has a mandate of 67 lots.
Northern Arc Capital IPO allotment: September 20
Shares expected to be credited on September 23
Tentative Listing Date: September 24
Book running lead managers of the Northern Arc Capital IPO are as follows: Axis Bank Limited, Citigroup Global Markets India Private Limited and ICICI Securities Limited. Kfin Technologies Limited is the registrar for the issue.
Arkade Developers IPO GMP, allotment
Arkade Developers IPO also opened for subscription on September 16, 2024. On Day 1 of IPO opening, Arkade Developers IPO was subscribed 6.31 times; 8.75 times in the retail category, QIB category received a subscription of 0.25 times, while NII category 8.42 times.
Arkade Developers IPO GMP stood at Rs 86, investorgain reported. With the price band set at 128, the shares are expected to be listed at Rs 214, a gain of over 67 per cent. It may be noted that GMP is not an official figure.
Arkade Developers IPO price band was set at Rs 121-128 per share. The retail investors are required to bid for a minimum lot size of 110 shares, while sNII are mandated to bid for 15 lots, and for bNII it is 72 lots.
Arkade Developers IPO allotment expected on September 20, while the initiation of refunds expected to take place on September 23. The shares are likely to be credited to the demat accounts of eligible investors on September 23, 2024. The stock will get listed on BSE and NSE with a tentative date September 24.
Unistone Capital Pvt Ltd is the book running lead manager, while Bigshare Services Pvt Ltd is the registrar for Arkade Developers IPO.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Northern Arc Capital IPO and Arkade Developers IPO opened for subscription on September 16 and close on 19th September. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
