Northern Arc Capital IPO to open on September 16

Northern Arc Capital, a name in India’s financial services sector, is a company that  focuses on areas like microfinance, MSME financing, and consumer finance. They’ve just announced their upcoming IPO, set to kick off on September 16 and run through September 19, 2024. The company aims to raise about Rs.777 crores, with a fresh issue of Rs. 500 crores and an offer for sale of around 10,532,320 equity shares, each valued at Rs.10.

What’s the Price & How’s It Allocated?

You can buy shares in the Northern Arc Capital IPO at a price between Rs. 249 and Rs. 263 each. Here’s how the allocation has shaped out: up to 35% of the shares are reserved for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs). 

Retail investors can buy at least 57 shares for Rs.14,991, with a maximum of 741 shares costing Rs.194,883. HNIs need to bid for at least 798 shares at Rs.209,874, but they can go up to 3,819 shares, totaling Rs.1,004,397.

How’s the Company Doing Financially?

Northern Arc Capital has been doing quite well financially. For FY24, they reported a revenue of Rs.1,906.03 crores, up from Rs.1,311.2 crores the year before. Their profit after tax (PAT) also jumped to Rs.317.69 crores from Rs.242.21 crores. This growth makes Northern Arc Capital an interesting watch for those looking at long-term investments.

When’s the IPO & Key Dates?

The IPO starts off on September 16 and wraps up on September 19, 2024. Results for allotment will be announced on September 20, with refunds and credits to demat accounts sorted by September 23. Shares are set to debut on the BSE and NSE on September 24, 2024.

Conclusion: Northern Arc Capital’s IPO is shaping up to be a big deal. With good financial results and a wide range of services, the company is definitely one to watch. As it gears up for its market debut, this IPO offers an interesting opportunity for investors.

Don’t miss out on new investment opportunities! Check out our Upcoming IPO and be among the first to invest. Grow your wealth today!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.