Tue Sep 24 07:11:07 UTC 2024: ## Northern Arc Capital Set for Strong Stock Market Debut

**MUMBAI, INDIA -** Northern Arc Capital, a leading shadow lender in India, is set to make its debut on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) on Tuesday, with analysts predicting a significant listing pop.

The company’s Initial Public Offering (IPO), which closed on September 19, saw an overwhelming response, being oversubscribed by 110.91 times. This strong investor interest has resulted in a grey market premium (GMP) of around Rs 130 per share, potentially translating to a 50% gain for investors upon listing.

“Northern Arc is poised for a strong debut, potentially commanding a premium of about 57% above the issue price,” said Prathamesh P Masdekar, Research Analyst at StoxBox. “We recommend investors consider holding their positions from a medium to long-term perspective.”

Northern Arc Capital, founded in 2009, specializes in providing retail loans to underserved households and businesses in India. Their business model is diverse, catering to various offerings, sectors, products, and borrower categories across the country. To date, they have facilitated over Rs. 1.73 lakh crore worth of financing, reaching over 10.18 crore people.

“The IPO’s valuation was reasonable, and the company’s strong fundamentals, coupled with the overwhelming investor response, suggest a promising debut,” said Shivani Nyati, Head of Wealth at Swastika Investmart.

The IPO was priced at a fixed price band of Rs 249-263 per share, raising approximately Rs 777 crore for the company.

With the strong investor interest and positive market outlook, Northern Arc Capital is well positioned for a successful listing and a promising future in the Indian financial landscape.

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