Arkade Developers’ IPO, which opened for subscription on September 16, has been 42.7 times oversubscribed as of Thursday, the final day for bidding. By around 1 pm, non-institutional investors had subscribed over 100 times, retail investors 42 times, and qualified institutional buyers (QIBs) at 90%.
FPIs heavily bearish, but that may well be a bullish signal
This was closer to 2024’s lows of 12.7% on June 4, which was seen at the start of June 2024 during the once-in-five-year mega event