SUMMARY
- Anchor investors have contributed ₹229 Cr, buying 87.02 lakh shares at ₹263 each.
- Northern Arc’s ₹777 Cr IPO opens on September 16, with shares priced at ₹249-263.
- The NBFC posted ₹1,890 Cr revenue in FY24, with a ₹317.69 Cr profit and ₹10,081 Cr AUM.
Leading anchor investors have contributed ₹229 Cr to non-banking lender Northern Arc Capital ahead of its first public offering (IPO), which is scheduled to begin subscriptions on Monday, September 16. Among the anchor investors are Quant Mutual Fund, Societe Generale, Goldman Sachs Pte, Kotak Mahindra Life Insurance Company, Reliance General Insurance Company, SBI General Insurance Company, and SBI Life Insurance Company.
15 funds received 87.02 lakh equity shares from Northern Arc at the public offer’s highest price range of ₹263 apiece. The total transaction value comes to ₹229 Cr as a result.
According to the Red Herring Prospectus (RHP) filing, the Chennai-based NBFC’s ₹777 Cr IPO would begin accepting public subscriptions on September 16 and end on September 19. The pricing range for each equity share with a face value of Rs 10 has been set at ₹249 to ₹263.
The IPO consists of an offer for sale by investor shareholders of up to 10,532,320 equity shares priced at ₹277 Cr, at the higher end of the price band, and a new issue of equity shares valued at ₹500 crore which brings the total size of the issue to ₹777 crore.
Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Eight Roads Investments Mauritius II Ltd, Sumitomo Mitsui Banking Corporation, 360 ONE Special Opportunities Fund, and Dvara Trust are among the companies offering shares through the OFS.
Asish Mehrotra-led Northern Arc offers financing facilities to MSMEs, Indian consumers, financial institutions, and new companies. It has supported several firms, including BharatPe, Slice, ProsParity, and Rebel Foods. It has assets under management (AUM) of more than ₹10,081 crore and claims to have financed ₹1.5 trillion throughout India since its founding.
In the fiscal year 2023–24 (FY24), the company’s total revenue was ₹1,890 crore, up 44% from ₹1,304 crore in the prior year. For the fiscal year, it declared a profit of ₹317.69 crore.
