Northern Arc Listed at Rs 350, Investors Gained 33.08%

Northern Arc Capital IPO was open for subscription from September 16, 2024, and ended on September 19, 2024, and is listed on exchanges like NSE and BSE on September 24, 2024. Northern Arc Capital had issued 29,543,727 shares out of these 19,011,407 shares were offered as a fresh issue and 10,532,320 shares were offered as an offer for sale.

The IPO was oversubscribed by 117.19 times the issue price reflecting strong investor confidence in the company. This led to the last grey market premium(GMP) of Rs. 131 expecting a listing gain of 49.81% which is Rs. 394. 

The issue price of Northern Arc Capital was at a price band of Rs. 249 to Rs. 263 per share and the company was listed in the exchange at Rs. 350 which is a 33.08% increase from the issue price. This listing gain was marked lower than the expected Grey Market Premium Price.

Northern Arc Capital Limited was founded in the year 2009 as a financial institution that offers retail loans to underserved households and small-scale businesses in India. Northern Arc is one of India's leading non-banking financial companies (NBFCs) in terms of Assets Under Management (AUM), boasting a well-diversified portfolio across multiple sectors, including MSME financing, microfinance (MFI), consumer finance, vehicle finance, affordable housing, and agricultural finance. 

To understand more about this stock you can check out our article Northern Arc Capital IPO - Good or Bad on Rupeezy’s Blog. The article explores the company’s financial health, competitive advantages, and the reasons behind the strong market response to its IPO.

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