Northern Arc Capital IPO : The NBFC’s Rs 777 crores IPO had been oversubscribed by 117.14 times on its last day. Eligible institutional and other investors bid aggressively, while retail investors also demonstrated a strong appetite.The grey market premium (GMP) of the IPO suggests a double-digit premium listing, and the allotment status is anticipated on September 20.
Subscription Status for Northern Arc Capital’s IPO
Northern Arc Capital’s IPO was oversubscribed by 117.19x on its last day, on September 19. The portion earmarked for qualified institutional buyers (QIB) was 242.73x oversubscribed, followed by investors from other institutions who were oversubscribed 147.58 times. In addition, retail bidders exceeded the reserved shares 32.01 times.
The initial public offering (IPO) began on September 16 and ended on September 19. The 100% book-building offer has a price range of Rs 249 to Rs 263 per share.
KFin Technologies is the registrant for the initial public offering (IPO), and ICICI Securities Limited, Axis Capital Limited, and Citigroup Global Markets India Private Limited are the book running lead managers.
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Following the IPO, Northern Arc’s allotment will most likely be carried out on September 20. On September 23, after the allocation is finalised, investors’ Demat accounts may start receiving refunds or credits.
On September 24, the proposed shares would go on sale on the BSE and NSE.
Check the allotment status of Northern Arc Capital’s IPO at Kfin Technologies’ website. The application can also be accessed on BSE and NSE.
How to Check KfinTech IPO Allotment Status:
Step 1: Visit https://kosmic.kfintech.com/ipostatus to view the KfinTech website.
Step 2: Select the Other IPOs box. You will be able to select any one of the website’s five links. Once you click, you will be taken to the IPO allotment status page.
Step 3: Choose an IPO option. Choose Northern Arc Capital Limited.
Step 4: You can check the status of your application by entering three identity details. Either through ‘Application No.’, ‘Demat Account’, or ‘PAN Card Number’
Step 5: Type in your Application No., Demat Account, or PAN, and then enter the captcha code.
Step 6: After clicking submit, you will be led to a new page that will display your IPO status.
To Check the Present State of Your Application on the BSE. Click the link below.
https://www.bseindia.com/investors/appli_check.aspx
When requested to access the BSE’s IPO allotment website, select “Equity” under “Issue Type”. After choosing Northern Arc Capital IPO from the “Issue Name” selection menu, input your PAN card details. To complete the procedure, add captcha verification and click ‘Search’ to see the status of your application.
According to Investor Grain, Northern Arc Capital IPO’s recent GMP is ₹128, last updated on September 19th, 2024 at 11:24 PM. The anticipated listing price of Northern Arc Capital IPO is ₹391 (cap price + September 19 GMP), with a price band of 263. The projected percentage gain/loss per share is 48.67 percent.
Northern Arc Capital Limited was created in 2009 and provides retail loans to underprivileged households and enterprises in India. They are a diversified financial services platform founded primarily to meet the different retail credit needs of India’s underserved households and enterprises. Over the last 15 years, they have taken a differentiated and comprehensive approach to India’s retail credit environment, spanning multiple sectors.
Issue Details
The issue goes up on September 16th.
The issue concludes on September 19.
The issue price ranges from Rs 249 to Rs 263 per share.
New issue: Rs 500 crore.
The offer for sale is Rs 276 crore.
Bid lot: 57 shares.
Listing: BSE and NSE.
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