The IPO of Northern Arc Capital was open for bidding from September 16-19 at a price band of ₹427-450 per share, with a lot size of 33 shares. Here’s what you need to know:
🔔 Allotment Details
- Finalization Date: The share allotment will be finalized on September 20. Investors can expect notifications regarding fund debits or IPO mandate revocations over the weekend, or by September 23 at the latest.
📊 Subscription Stats
- Overall Subscription: 110.91 times
- Qualified Institutional Bidders (QIBs): 240.79 times
- Non-Institutional Investors: 142.41 times
- Retail Investors: 7.33 times
💰 Grey Market Premium (GMP)
- Current GMP: ₹128-130 per share, indicating a potential listing gain of around 50%. Notably, the GMP was around ₹200 when bidding opened.
📅 Listing Date
- Tentative Listing Date: September 24, 2024, on both BSE and NSE.
🔍 Check Application Status
Investors can check their allotment status through:
- BSE Website:
- BSE Application Status
- Select “Equity” and choose “Northern Arc Capital Ltd,” then enter your application number and PAN.
- KFin Technologies Portal:
- KFin Technologies IPO Status
- Select the IPO, choose your application mode (Application number, Demat Account number, or PAN ID), and submit the details.
📝 Company Overview
Founded in 2009, Northern Arc Capital specializes in providing retail loans to underserved households and businesses across various sectors and regions. They’ve facilitated over ₹1.73 lakh crore in financing, impacting more than 10.18 crore people in India as of March 31, 2024.
Brokerages are generally optimistic about the IPO, highlighting strong loan demand and a solid market presence, although concerns about cash flow and reliance on select clients remain.
Stay tuned for more updates! 🚀