Non-banking financial institution Northern Arc Capital’s initial public offering (IPO) was subscribed 110.71 times on the closing date of the share sale on Thursday. The share sale worth Rs 777 crore attracted bids for 23,779,44,639 shares against the offer price of 21,478,290 shares, according to NSE data. The quota for qualified institutional buyers (QIBs) was subscribed 240.79 times, while non-institutional investors subscribed 142.28 times. The retail investor (RII) category was subscribed 30.74 times.
Northern Arc Capital on Friday said it had raised Rs 229 crore from anchor investors. The Chennai-based company’s Rs 777 crore IPO has a price band of Rs 249-263 per share. The IPO combines a fresh issue of ordinary shares worth Rs 500 crore with an offer for sale (OFS) of up to 1,053,2320 ordinary shares worth Rs 277 crore at the higher end of the price band by investor shareholders. This takes the issue size to Rs 777 crore.
Northern Arc Capital’s IPO Details
| IPO Open Date: | Monday, September 16, 2024 |
| IPO Close Date: | Thursday, September 19, 2024 |
| Face Value: | ₹10 Per Share |
| IPO Price Band: | ₹249 to ₹263 per share |
| Issue Size: | 29,543,727 shares(aggregating up to 777.00Cr) |
| Fresh Issue: | 19,011,407 shares( aggregating up to ₹500.00Cr) |
| Offer for Sale: | 10,532,320 shares of ₹10 (aggregating up to 277.00Cr) |
| Employee Discount: | ₹24 per share |
| Issue Type: | Book Built Issue IPO |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 50% |
| QIB Quota: | Not more than 20% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Northern Arc Capital IPO Market Lot
Northern Arc Capital’s IPO was open for bidding from September 16 to 19. The company was offering shares in a lot size of 57 shares at a fixed price band of Rs 249-263 per share.
| Category | Minimum Lot Size | Shares | Application Amount |
|---|---|---|---|
| Retail Minimum | 1 | 57 | ₹ 14,991 |
| Retail Maximum | 13 | 741 | ₹194,883 |
| S-HNI Minimum | 14 | 798 | ₹ ₹209,874 |
| B-HNI Minimum | 67 | 3819 | ₹1,004,397 |
Northern Arc Capital IPO Dates:
- IPO Open Date:16, September 2024
- IPO Close Date:19,September 2024
- Basis of Allotment: 23, September 2024
- Refunds: 23, September 2024
- Credit to Demat Account:23, September 2024
- IPO Listing Date: 24, September 2024
Promoters of Northern Arc Capital IPO
Northern Arc Capital Ltd.’s promoter share is 0%.
Northern Arc Capital IPO
The company that offers financial services is Northern Arc Capital. The company primarily serves underprivileged Indian households and companies’ various retail credit needs. The organization offers financing for consumer finance, auto finance, affordable housing, and agricultural finance in addition to micro, small, and medium-sized businesses (MSMEs) and microfinance institutions (MFIs).
Northern Arc is a leading player among diversified NBFCs in the country. Its business model focuses on various services, sectors, products, geographies and borrower segments. It provides access to credit to underserved households and businesses directly and indirectly through origination partners. ICICI Securities, Axis Capital and Citigroup Global Markets India are the book-running leads for the offering.
Three primary channels are used by Northern Arc Capital to provide its services: fund management, placements, and lending.
Northern Arc Capital IPO Financial Performance (in ₹ Crores).
| Year | Revenue | Assets | PAT |
|---|---|---|---|
| 2022 | 916.55 | 7,974.12 | 181.94 |
| 2023 | 1,311.2 | 9,371.57 | 242.21 |
| 2024 | 1,906.03 | 11,707.66 | 317.69 |
Northern Arc Capital IPO Valuation (FY2023):
- EPS: ₹57.96 per Equity Share
- P/E Ratio: N/A (not yet listed)
- RoNW: 23.48
- NAV: ₹246.82 per Equity Share
Peer Group
- Bjaj Finance Limited
- CreditAccess Grameen Limited
- Poonawalla Fincorp Limited,
Northern Arc Capital Company Promoters:
NA
Lead Managers of Northern Arc Capital
- ICICI Securities Limited
- Axis Bank Limited
- Citigroup Global Markets India Private Limited
Northern Arc Capital IPO Company Address-
Northern Arc Capital Limited
No. 1, Kanagam Village 10th Floor,
10th Floor, IITM Research Park Taramani,
Chennai – 600 113
Phone: +91 44 6668 7000
Email: investors@northernarc.com
Website: http://www.northernarc.com/
Northern Arc Capital IPO FAQs:
What is the issue size of Northern Arc Capital Co., Ltd.’s IPO?
Northern Arc Capital Co., Ltd.’s issue size is 777Cr.
What is Northern Arc Capital Co., Ltd.? IPO Pre-Registration Process?
Northern Arc Capital Limited IPO can be applied for 2 days before the start of the subscription period using a pre-registration.
When is Northern Arc Capital’s IPO listing date?
Northern Arc Capital’s IPO is scheduled to be listed on September 24, 2024.
When will Northern Arc Capital’s IPO be allotted?
Northern Arc Capital’s IPO allotment date is September 20, 2024.
When does Northern Arc Capital IPO open?
Northern Arc Capital IPO will open on September 16, 2024, and close on September 19, 2024.
What is the draw amount for Northern Arc Capital IPO?
Northern Arc Capital IPO lot is 57 shares and the minimum required amount is ₹14,991.
How can I apply for Northern Arc Capital IPO?
You can apply for the Northern Arc Capital IPO online using UPI or ASBA as payment methods. ASBA IPO applications are available through online banking in your bank account.