Tue Sep 24 10:51:00 UTC 2024: ## Northern Arc Capital IPO Raises ₹777 Crore

**Mumbai, India** – Northern Arc Capital, a non-deposit-taking non-banking finance company (NBFC), successfully concluded its Initial Public Offering (IPO) on September 24th, 2024, raising a total of ₹777 crore.

The IPO, which had a price band of ₹249 to ₹263 per share, consisted of a fresh issue worth ₹500 crore and an offer for sale (OFS) of up to 1,05,32,320 shares valued at ₹277 crore by investor shareholders.

The proceeds from the fresh issue will be used to meet the company’s future capital requirements for lending activities. Northern Arc Capital has demonstrated strong growth in recent years, with a compound annual growth rate (CAGR) of 18% in assets under management (AUM) and 20% in profit between fiscal years 2021-22 and 2023-24.

The successful IPO signifies investor confidence in Northern Arc Capital’s business model and growth prospects. The company plans to utilize the raised capital to further expand its lending operations and capitalize on the growing demand for financial services in India.

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