Strong demand for Northern Arc, Arkade, Western Carriers IPOs

Three initial public offerings (IPOs) - Northern Arc Capital, Western Carriers India, and Arkade Developers - that closed for subscription on Thursday received strong investor interest.

Northern Arc Capital's ₹777-crore IPO was subscribed 110.91 times, attracting bids worth ₹62,553 crore. The issue received bids for 238.22 crore shares against the offered 2.14 crore shares, excluding anchor investors. The IPO, priced at ₹249-263 per share, comprised a fresh issue of ₹500 crore and an offer for sale of 1.05 crore shares.

Arkade Developers' ₹410-crore IPO was subscribed 106.83 times, with the issue priced at ₹121-128 per share.

Western Carriers India's ₹493-crore IPO was subscribed 30.57 times. The issue, priced at ₹163-172 per share, included a fresh issue of ₹400 crore and an offer for sale of 54 lakh shares.