Northern Arc Capital, a prominent player in the non-banking financial sector (NBFC) headquartered in Chennai, has revealed its IPO, aiming to collect a substantial ₹777 crore.
This capital raise is strategically structured, blending fresh equity shares worth ₹500 crore with an Offer For Sale (OFS) involving up to 1,05,32,320 shares valued at approximately ₹277 crore, offloaded by existing investors.
The company has set the price band at ₹249-263 per share, with the subscription window flung open to the public from September 16 through September 19, 2024.
Major investors participating in the OFS include Leapfrog Financial Inclusion India, Accion Africa-Asia Investment Company, Eight Roads Investments Mauritius, Sumitomo Mitsui Banking Corporation, and others. The IPO marks an important phase for Northern Arc as it expands its impact on financial inclusion.
For investors, this IPO means an opportunity to invest in a company with a strong track record of financial inclusion and a business model. As always, possible investors must consider the company’s financials, market conditions, and personal investment goals before making any investment decisions.
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