Arkade Developers Raises Rs 1.22 Bn from Anchor Investors

Bangalore, 23rd July 2023:

Arkade Developers, one of the fast developing real estate companies in South India, has successfully raised Rs 1.22 Bn from anchor investors ahead of its proposed initial public offering (IPO). The funds raised will be used for business expansion and debt reduction.

Strong Investor Interest and Subscription

The anchor book was subscribed 2.3 times, reflecting strong investor interest in the company's growth prospects. The anchor investors comprised leading domestic and international institutional investors, including mutual funds, insurance companies, and pension funds.

Company's Growth and Expansion Plans

Arkade Developers has a proven track record of developing and delivering high-quality residential and commercial projects in Bangalore, Chennai, and Hyderabad. The company plans to utilize the proceeds from the IPO to expand its operations in these key markets and enter new geographies.

Financial Performance and Market Position

Arkade Developers has consistently delivered strong financial performance, with a revenue growth of over 25% in the last three years. The company has a healthy balance sheet with low debt and high profitability margins. It is well-positioned to capitalize on the growing demand for real estate in South India.