Western Carriers vs Arkade Developers vs Northern Arc : There will be a lot of action in the IPO market on Tuesday. Tomorrow i.e. on 24th September, 3 mainboard IPOs will be listed in the market. The companies whose shares will be listed on BSE and NSE include Western Carriers, Arkade Developers and Northern Arc. Subscriptions for all three IPOs closed on 19 September 2024. All three have received high subscription from investors, while there is a tremendous craze about them in the grey market as well. There are indications of up to 66 percent return on their listing from the grey market.
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Western Carriers IPO
Subscription Status
Western Carriers’ IPO has received a strong response from investors. On the last day of the IPO, September 19, it has received an overall subscription of 30.57 times. It has been subscribed 25.95 times in the retail category, 27.99 times in the QIB category and 44.71 times in the NII category. The size of the IPO was Rs 492.88 crore.
GMP
There is a craze in the grey market regarding the IPO of Western Carriers. The unlisted stock of the company is trading at a premium of Rs 15 in the grey market. As per the upper price band of Rs 172, the company’s shares are expected to be listed at Rs 187. If this happens, investors will get a profit of more than 9 percent.
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Arkade Developers
Subscription Status
Investors have bid heavily in the IPO of RK Developers. On the last day of the IPO, September 19, it has received an overall subscription of 106.83 times. It has been subscribed 51.39 times in the retail category, 163.16 times in the QIB category and 163.02 times in the NII category. The size of the IPO was Rs 410 crore.
GMP
There is a huge craze in the grey market about the IPO of Arkade Developers. The unlisted stock of the company is trading at a premium of Rs 65 in the grey market. As per the upper price band of Rs 128, the company’s shares are expected to be listed at a price of Rs 193. If this happens, investors will get a profit of more than 51 percent.
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Northern Arc Capital IPO
Subscription Status
Northern Arc’s IPO has also received a tremendous response from investors. On the last day of the IPO, September 19, it has received an overall subscription of 110.91 times. It has been subscribed 31.08 times in the retail category, 240.79 times in the QIB category and 142.41 times in the NII category. The size of the IPO was Rs 777 crore.
GMP
There is a craze in the grey market regarding the IPO of Northern Arc Capital. The unlisted stock of the company is trading at a premium of Rs 150 in the grey market. As per the upper price band of Rs 263, the listing of the company’s shares is expected to be at a price of Rs 413. If this happens, investors will get a profit of more than 57 percent.
