Mumbai – Northern Arc Capital’s stock hit the ground running today, debuting on the NSE and BSE with a 33% premium over its IPO price, but soon faced a slide 📉. After opening at ₹350 (🔥🔥), the shares took a dip, falling over 10% to ₹314.2 on the NSE by mid-morning. On the BSE, it dropped to ₹313.9, missing the initial buzz. 😬
IPO Madness! 🤑
The Northern Arc Capital IPO was 🔥LIT🔥 during its subscription period. The IPO had a price band of ₹249 to ₹263 per share and was a mix of a ₹500 crore fresh issue and an OFS (Offer for Sale) of 1.05 crore shares valued at ₹277 crore. It was wildly oversubscribed, catching the eyes of institutional and retail investors alike:
- Qualified Institutional Buyers (QIBs) went all in, subscribing 240.79 times.
- Non-institutional investors (NIIs) weren’t far behind with 142.28 times the reserved portion.
- Retail investors? They clocked in a solid 30.74 times subscription. 👏💼
What Happened Post-Listing? 👀
After making a stellar debut at ₹350 (a 33% premium over its issue price), it seemed like the stock was set for a moonshot 🚀. But then, it took a downward turn. By 11:45 am, the stock had fallen to ₹314.2 on the NSE – a 10.2% slide – and ₹313.9 on the BSE, losing some of that early fire 🔥.
Here’s the lowdown on its trading stats:
- Stock Price: ₹322.5 (-7.8%)
- Traded Volume: 227.13 Lakhs
- Traded Value: ₹759.11 crore
- Market Cap: ₹5,200.45 crore
The listing was lit at first, but the stock couldn’t hold on to the peak 🏔️. It opened at ₹350, but by 11:00 am, it had dipped to ₹330.1, a 5.6% drop.
Solid Growth Vibes 📊
Let’s not forget the strong fundamentals behind Northern Arc Capital. The company saw some serious growth between FY22 and FY24:
- Revenue Growth: From ₹909 crore in FY22 to ₹1,890 crore in FY24. That’s 🔥🔥🔥.
- Net Profit: From ₹181 crore in FY22 to ₹317 crore in FY24. 🚀
- CAGR Growth: Assets under management (AUM) grew 18% and profits jumped 20% over the same period.
This non-banking financial company (NBFC) has been crushing it in the financial services space, with a diverse portfolio including microfinance, MSME financing, vehicle finance, agriculture finance, and affordable housing finance 🏘️. They’ve been supporting small businesses, consumers, and the economy like a boss 🏦.
The Plan for the Bag 💰
Northern Arc Capital is already planning how to flex with their IPO cash:
- Onward Lending: The fresh issue proceeds will go towards beefing up their lending capital, fueling more growth across their financial services.
- Fresh Issue + OFS: Between the fresh issue of ₹500 crore and the OFS, Northern Arc’s investors are securing the bag big time. 💼💰
TL;DR 📢
Northern Arc Capital had a fire IPO debut, opening with a 33% premium but sliding over 10% soon after. Still, the company’s strong fundamentals and growth potential mean they’re in it for the long game. Whether you’re riding the wave or watching from the sidelines, keep an eye on this financial powerhouse. 📊👀
Stay tuned for more 🔥 market updates and IPO insights!
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