Northern Arc Capital Sets Price Band for ₹777-Crore IPO, Aims for ₹4,244 Crore Market Cap Post-Listing

Keywords: Northern Arc Capital IPO, ₹777 crore IPO, Northern Arc Capital share price, IPO price band, retail loans IPO India, post-listing market cap, initial public offering 2024, Northern Arc IPO news

Northern Arc Capital Ltd., a leading retail loan provider focused on underserved households and businesses in India, has announced its price band for the upcoming ₹777 crore Initial Public Offering (IPO). The subscription window for the IPO will open on Monday, September 16, 2024, and conclude on September 19. The company has set the price band between ₹249 to ₹263 per share, with a post-listing market capitalisation estimated at ₹4,244 crore at the upper end of the price band

IPO Details

Retail investors can bid for a minimum lot size of 57 shares and in multiples thereof. According to the red herring prospectus (RHP), the bidding process for anchor investors will commence a few days earlier, on September 13, 2024.

The IPO will consist of a fresh issue of equity shares worth ₹500 crore, along with an Offer For Sale (OFS) of 1.05 crore equity shares. Those offering shares through the OFS include Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Eight Roads Investments Mauritius II Ltd, Sumitomo Mitsui Banking Corporation, 360 ONE Special Opportunities Fund (formerly IIFL Special Opportunities Fund), and Dvara Trust.

Reservation for Investors

Of the total IPO size, 50% or shares worth ₹381 crore have been earmarked for Qualified Institutional Bidders (QIB). Non-Institutional Investors (NII) will have access to 15% of the issue, or shares worth ₹114 crore, while the remaining portion will be available for retail investors.

Northern Arc Capital’s IPO marks a significant step for the Chennai-based firm, which plays a pivotal role in providing financial access to underserved segments across India. As the subscription period approaches, the company is poised to attract considerable attention from investors.

For ongoing updates and detailed coverage of this IPO and other financial market developments, visit Kanishk Social Media. If you found this article informative, please share it with others interested in current market trends and investment opportunities.