Northern Arc Capital IPO: The NBFC's Rs 777 crore IPO oversubscribed by a huge 117.14 times on the final day of the offer. Strong bidding emerged from qualified institutional and non-institutional investors, while retail investors also showed robust appetite. The IPO's allotment status is likely to take place on September 20, while its grey market premium (GMP) is suggesting a double-digit premium listing ahead.
Northern Arc Capital IPO Subscription Status:
On the final day which was on September 19, the Northern Arc Capital IPO oversubscribed by a whopping 117.19x. Of the total, the portion reserved for qualified institutional buyers (QIB) oversubscribed by 242.73x, followed by 147.58x oversubscription by non-institutional investors. Also, retail bidders oversubscribed the reserved shares by 32.01x.
The IPO opened on September 16 and closed on September 19. The 100% book building offer had a price band of Rs 249 per share to Rs 263 per share.
Book running lead managers are ICICI Securities Limited, Axis Capital Limited and Citigroup Global Markets India Private Limited of the IPO, while the registrar is KFin Technologies.
What Is Next?
After the IPO, the basis of the allotment by Northern Arc will most likely be carried out on September 20. Once the allotment is finalised, the initiation or refunds or credit shares in investors' Demat accounts may take place on September 23.
The proposed shares will be listed on BSE and NSE on September 24.
Northern Arc Capital IPO Allotment Status:
The IPO's allotment status can be checked on the registrar's website, Kfin Technologies. Also, the application can be viewed on BSE and NSE.
Step 2: Select the Other IPOs box. You will have the option of selecting any 1 of the 5 links on the website. Once clicked, you will be directed to the IPO allotment status page.
Step 3: Select the IPO Option. Click on Northern Arc Capital Limited.
Step 4: You can check your application status through three identification data. Either via 'Application No.' Or 'Demat Account' Or 'PAN card number'
Step 5: Enter the details of Application No, Demat Account Or PAN, and put the captcha code.
Step 6: Click on submit, and you will be directed to a new page which will indicate your status in the IPO.
To Check Your Application Status On BSE. Click On the link below:
Once directed to the page of IPO allotment of BSE, select ''Equity' under the option of 'Issue Type.' Select Northern Arc Capital IPO in the ''Issue Name' dropdown, and enter your PAN card details. Again, to complete the process, add captcha verification and click on 'Search' to view the status of your application.
Northern Arc Capital IPO GMP:
As per Investor Grain, Northern Arc Capital IPO's last GMP is ₹128, last updated Sep 19th 2024 11:24 PM. With a price band of 263.00, Northern Arc Capital IPO's estimated listing price is ₹391 (cap price + September 19 GMP). The expected percentage gain/loss per share is 48.67%.
Northern Arc Capital Limited was founded in 2009 and offers retail loans to underserved households and businesses in India. They are a diversified financial services platform set up primarily with the mission of catering to the diverse retail credit requirements of the under-served households and businesses in India. Over the last 15 years, their approach has been to create a differentiated and comprehensive play on the retail credit ecosystem in India spread across sectors.
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