Private Equity

Liquidity Events

NBFC Northern Arc Capital files DRHP to raise Rs.300-Cr

MoneyControl  

Chennai-based Northern Arc Capital, a non-banking financial company, has filed draft documents with the capital markets regulator Sebi to raise funds via an initial public offering of more than INR 300 crore. The IPO comprises a fresh issue of INR 300 crore and an offer for sale of up to 3,65,20,585 equity shares by the shareholders. The company may consider raising INR 150 crore by issuing equity shares on a private placement basis. Axis Capital, Credit Suisse Securities (India), IIFL Securities and SBI Capital Markets are the book running lead managers to the issue. Leapfrog Financial Inclusion India is looking to selling 89,87,093 shares, Accion Africa-Asia Investment Company 23,10,191, Augusta Investments II PTE Ltd 70,76,499, Eight Roads Investments Mauritius II 40,83,812, Dvara Trust 38,64,160, IIFL Special Opportunities Fund 50,41,455, IIFL Special Opportunities Fund– Series II 12,31,710 shares, IIFL Special Opportunities Fund– Series III 5,41,805, IIFL Special Opportunities Fund–Series IV 18,62,128, and IIFL Special Opportunities Fund–Series V is looking to sell 15,21,732 shares. Northern Arc Capital is a platform in the financial services sector set up primarily to cater to the diverse credit requirements of under-served households and businesses by providing efficient and reliable access to debt finance.