In Short:
Northern Arc Capital has secured ₹229 crore from 15 anchor investors at ₹263 per share for its IPO. Major investors include Quant MF and SBI entities. The IPO price ranges from ₹249 to ₹264, with bidding open from September 16-19, allowing a minimum bid of 57 shares. The company aims to raise up to ₹500 crore to support future lending and comply with RBI capital regulations.
Exciting News from Northern Arc Capital!
In a remarkable move, Northern Arc Capital has successfully gathered a whopping ₹229 crore from 15 prominent anchor investors. The IPO price has been pegged at the upper limit of ₹263 per share, making waves in the investment community.
Who Are the Key Players?
Among the standout **anchor investors** are:
- Quant MF
- SBI Life Insurance
- SBI General Insurance
- Singularity Equity Fund
- Volrado Venture Partners
Each of these influential players has been allocated a remarkable 11.26 percent of the anchor portion.
Other noteworthy participants include:
- Anchorage Capital Fund
- Canara HSBC Life Insurance
- Kotak Mahindra Life Insurance
- Société Generale
- Goldman Sachs
- Also read: Northern Arc Capital IPO – Key Things to Know Before You Subscribe
IPO Details You Shouldn’t Miss
The IPO has a price range set between ₹249 and ₹264 per share, with bidding expected to be open from September 16-19. Interested investors can place bids for a minimum of 57 shares, with the option to bid in multiples of 57 thereafter.
Funds Utilization
Northern Arc Capital is set to raise up to ₹500 crore through a fresh issue, alongside an offer for sale of nearly 1 crore shares from various selling shareholders, including LeapFrog Inclusion India, Accion Africa-Asia Investment Company, 360 ONE Special Opportunities Fund, Eight Roads Investments Mauritius II, Dvara Trust, and Sumitomo Mitsui Banking.
The proceeds from this issue will be strategically utilized to bolster capital requirements for lending in vital sectors such as **MSME financing**, **MFI**, **consumer finance**, **vehicle finance**, **affordable housing finance**, and **agricultural finance**. This will also help ensure compliance with the **RBI regulations** on capital adequacy for FY25.
