look news india
Arcade Developers IPO: Maharashtra-based developer MMR, a top 10 developer in terms of supply and a leading player in select micro markets across the country, will open its initial public offering of equity shares on September 16, 2024.
The anchor investor bid date is one active day prior to the bid/issue opening date i.e. Friday, September 13, 2024. Whereas, the bid/issue closing date will be September 19, 2024. The price-band of the issue has been fixed at Rs 121 to Rs 128 per equity share. Bids can be made for a minimum of 110 equity shares and in multiples of 110 equity shares thereafter.
The issue consists of a fresh issue of equity shares aggregating up to Rs 4,100.00 million. The company plans to list its IPO on the Bombay Stock Exchange and the National Stock Exchange.
Further, the company proposes to use the net proceeds from the issue for development expenditure and acquisition of yet-to-be-identified land for real estate projects and general commercial purposes. Meanwhile, Unistone Capital is the sole book running lead manager (BRLM) for the issue.