Arkade raises Rs 12.24 billion from anchor investors ahead of IPO

Bengaluru-based edtech startup Arkade has raised Rs 12.24 billion from anchor investors ahead of its initial public offering (IPO).

The company plans to use the proceeds from the IPO to fund its growth plans, including expanding its product portfolio, investing in technology, and hiring new talent.

Arkade is a leading provider of online learning solutions for K-12 students. The company's platform offers a wide range of courses, including math, science, English, and social studies. Arkade also provides personalized learning plans and adaptive assessments to help students learn at their own pace.

The company's strong financial performance and growth potential have attracted the attention of several leading investors. The anchor investors in the IPO include Fidelity International, BlackRock, and Goldman Sachs.

Arkade's IPO is expected to be one of the largest in the Indian edtech sector this year. The company is expected to raise up to Rs 20 billion from the IPO.

The IPO is expected to open on August 23 and close on August 25. The shares are expected to be listed on the BSE and NSE on August 30.

Here are some key details about Arkade's IPO:

• Issue size: Rs 20 billion
• Price band: Rs 473-483 per share
• Offer period: August 23-25
• Listing date: August 30

Analysts are positive on Arkade's IPO prospects.

They believe that the company's strong financial performance, growth potential, and experienced management team make it a good investment opportunity.

Arkade's IPO is expected to be a success. The company's strong fundamentals and growth potential are likely to attract investors. The IPO is also expected to provide Arkade with the capital it needs to fund its growth plans.