NORTHERN ARC CAPITAL LIMITED

16 Sep 2024 - 19 Sep 2024 Individual Category Main Board BSE NSE

Min Investment

₹14991

Price Band

₹249-₹263

Issue Size

214.78 lakhs
Equity Shares

Lot Size

57

IPO Dates
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16 Sep 2024

Open Date

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19 Sep 2024

Close Date

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20 Sep 2024

Allotment Date

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24 Sep 2024

Listing Date

Northern Arc Capital IPO is open for subscription starting Friday, Sep 16, 2024 and closing on Wednesday, Sep 19, 2024. The price of this upcoming IPO is decided at Rs 249 to Rs 263 per share. The minimum lot size for the retail category is 57 shares. The minimum lot size for small NII is 14 lots consisting of 798 shares. Meanwhile, the minimum lot for big non-institutional investors is 67 lots with 3,819 shares. The minimum investment required for retail category investors is Rs 14,934 (262 x 57 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,09,874 (263 x 798 shares) for big non-institutional investors, it is Rs 10,04,397 (263 x 3,819 shares). Northern Arc Capital IPO is a book-built issue of Rs 777 crores. This issue is a combination of fresh issue and offer-for-sale. The fresh issue is of Rs 1.9 crore equity shares amounting to Rs 500 crores. The offer-for-sale is of 1.05 crore equity shares amounting to Rs 277 crores. The allotment for this IPO is expected to be finalised on Friday, September 20, 2024. Northern Arc Capital Limited's IPO will be listed on both the exchanges BSE and NSE, and the listing date is fixed for Tuesday, September 24, 2024. ICICI Securities Ltd, Axis Bank Ltd and Citigroup Global Markets India Private Ltd are the book-running lead managers of Northern Arc Capital Limited. Kfin Technologies Private Limited is the registrar for this new IPO.

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About Northern Arc Capital Limited

Northern Arc Capital Limited was founded in 2009, engaged in the business of offering retail loans to the underserved household and business in India. The company’s business model is diversified across different offerings, sectors, products, geographies, and borrower categories. Northern Arc Capital has expertise in lending across various focus sectors in India, especially in micro, small, and medium enterprise finance, microfinance, consumer finance, vehicle finance, affordable housing finance, and agriculture finance. The company has been active in MSME finance for over 14 years, MFI finance for 15 years and consumer finance for nine years.The company is working on three main businesses - Lending, Placement and fund management. Northern Arc Capital has an end-to-end integrated technology product suite customised to multiple sectors. This includes an in-house technology stack consisting 1) Nimbus, a curated debt platform that enables end-to-end processing of debt transactions 2) nPOS, a co-lending and co-origination technology solution based on application programming interfaces 3) Nu Score, a customised machine learning-based analytical module designed to assist originator partners in the loan underwriting process and 4) AltiFi, an alternative retail debt investment platform.

Founded

2009

Managing Director

P.S Jayakumar, Dr. Kashama Fernandes, Ashish Mehrotra, Arun Kumar N.T, Ashutosh Arvind Pednekar and

Parent Organization

IPO Objectives

The net funds received from this initial public offer will be allocated to meet the future capital need toward the onward lending. The remaining money will be used for meeting the day-to-day needs for the smooth functioning of the business.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0

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