Liquidity Events
Northern Arc Capital's IPO subscribed 111 times
The initial public offer (IPO) of Chennai-based Non-banking financial company (NBFC) Northern Arc Capital Ltd received bids for 2,37,68,26,014 shares as against 2,14,78,290 shares on offer. The issue was subscribed 110.66 times.The Qualified Institutional Buyers (QIBs) category was subscribed 240.79 times. The Non Institutional Investors (NIIs) category was subscribed 142.25 times. The Retail Individual Investors (RIIs) category was subscribed 30.70 times. The price band of the IPO was fixed between INR 249 and INR 263 per share.The IPO consisted of a fresh issue of INR 500 crore to be used for augmenting the capital base and meet future capital requirements.The issue also included an offer for sale (OFS) of 1.05 crore equity shares for realising INR 262.55-277.00 crore by investors LeapFrog Financial Inclusion India (II) (38,44,449 equity shares), Accion Africa-Asia Investment Company (12,63,965 equity shares), Eight Roads Investment Mauritius II (17,46,950 equity shares), Dvara Trust (13,44,828 equity shares), 360 One Special Opportunities Fund (14,08,918 equity shares) and Sumitomo Mitsui Banking Corporation (9,23,210 equity shares).
Between Mar 2014 and Jun 2024, Northern Arc Capital had raised over USD 600.30 M from FMO, IFC, Proparco, Calvert Foundation, ADB, Affirma Capital, IIFL AMC, StanChart PE, Eight Roads Ventures and LeapFrog.For FY23, Northern Arc Capital had reported about INR 1,304.97 Cr in Operating Income and about INR 242.22 Cr in PAT.
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