Northern Arc Capital IPO Allotment Status
The wait is over for investors who applied for the Northern Arc Capital Initial Public Offering (IPO). The share allotment status is expected to be announced later today. The allotment process is supervised by the registrar, and investors will receive shares on a lottery basis.
How to Check Allotment Status
Investors can check their allotment status through the Bombay Stock Exchange (BSE) website or the registrar's website, Kfin Technologies. Here's a step-by-step guide:
- Through BSE:
- Visit the BSE website (https://www.bseindia.com/investors/appli_check.aspx)
- Select the issue name (Northern Arc Capital) from the drop-down menu
- Enter your application number or PAN number to check the allotment status
- Through Kfin Technologies:
- Visit the Kfin Technologies website (https://kosmic.kfintech.com/ipostatus/)
- Select Northern Arc Capital IPO
- Enter your PAN details and click search to know the status
Northern Arc Capital IPO Details
The company's shares are expected to get listed on the exchanges on September 24. In the unlisted market, the shares are trading with a Grey Market Premium (GMP) of Rs 145, which translates to a premium of 55% to the issue price.
The Northern Arc Capital IPO received an overwhelming response from investors, with an overall subscription of nearly 111 times at close. The company proposes to utilize the net proceeds to meet future capital requirements for onward lending.
About Northern Arc Capital
Northern Arc Capital is a diversified financial services platform that provides retail credit to under-served households and businesses in India. The company has facilitated over Rs 1.73 trillion worth of financing, reaching out to over 10 crore people across India.
With a strong risk management system and a large data repository, the company has one of the lowest gross non-performing assets (GNPA) of 0.45% and net non-performing assets (NNPA) of 0.08%, as of FY24.
The company's net interest income (NII) rose 67% year-on-year (YoY) to Rs 986 crore, while net profit increased 31% YoY to Rs 318 crore in FY24.
ICICI Securities, Axis Bank, and Citigroup Global Markets India are the book running lead managers for the IPO, while Kfin Technologies is the registrar.