The Securities and Exchange Board of India (SEBI) has given green signal to Arkade Developers’ initial public offering (IPO). It is completely a fresh issue of equity shares worth Rs 430 crore.
Funds raised from the issue will be used for the company’s ongoing and upcoming projects and funding the acquisition of future real estate projects and general corporate purposes. The equity shares of the company will be listed on the BSE and the NSE.
Arkade Developers is a fast-growing real estate development company with a significant presence in Mumbai.
