Tue Sep 24 11:50:55 UTC 2024: ## Northern Arc Capital Debuts on Stock Market with Strong Premium

**Mumbai, India:** Northern Arc Capital Ltd., a leading non-banking financial company (NBFC) specializing in credit access for underserved communities, made its debut on the stock exchanges today, opening at a significant premium.

The company’s shares closed at Rs 322 per share on the BSE, a premium of 22.4% over the issue price of Rs 263. On the National Stock Exchange, the stock opened at Rs 322.3, marking a 22.54% premium.

The initial public offering (IPO) was highly successful, attracting strong demand, particularly from non-institutional investors. The IPO was subscribed 110.9 times on its final day.

The IPO included a fresh issue of equity shares worth Rs 500 crore and an offer for sale of Rs 275 crore. Proceeds from the fresh issue will be used to meet the company’s future capital requirements for onward lending.

Northern Arc provides direct and indirect credit access to underserved households and businesses through a network of partner originators. Its diversified business model spans offerings, sectors, products, geographies, and borrower segments.

The company initially filed IPO papers in July 2021 and received approval from the Securities and Exchange Board of India (SEBI) in September 2021. However, due to regulatory constraints, the IPO was delayed. Northern Arc re-filed its Draft Red Herring Prospectus (DRHP) with SEBI in February 2023 and received final approval on July 15th.

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