Tue Sep 24 20:41:22 UTC 2024: ## Northern Arc Capital Makes Strong Stock Market Debut with 33% Premium

**Mumbai, India – September 24, 2024** – Northern Arc Capital, a leading non-banking financial company (NBFC) focused on retail credit, made a strong debut on the stock exchanges today, listing at a premium of 33% to its issue price. The IPO was oversubscribed 117.19 times, raising Rs 777 crore for the company.

The company’s shares opened at Rs 350 on the National Stock Exchange (NSE), despite initial selloffs on high volumes. The stock closed the day at Rs 323.60, still 20.11% higher than its IPO price of Rs 263.

Northern Arc Capital’s success stems from its unique business model, powered by a proprietary technology suite that streamlines and digitizes lending solutions, particularly in underserved segments like MSMEs, microfinance, and consumer finance. The company has a proven track record in these sectors, with over 14 years of experience in MSME financing, 15 years in MFI financing, and 9 years in consumer credit.

“This IPO represents a significant milestone for Northern Arc Capital and is a testament to our commitment to fostering financial inclusion and providing access to credit for the underserved,” said [Company representative name, title]. “We are confident that our strong business model, coupled with our technology-driven approach, will continue to drive growth and value for our shareholders.”

The company plans to utilize the proceeds from the fresh issuance of Rs 500 crore to meet its future capital requirements for lending activities.

Analysts are optimistic about the company’s future prospects, citing its strong performance, robust technology platform, and focus on key growth segments.

“Northern Arc Capital is well-positioned for long-term sustained growth, attributed to the company’s strong emphasis on MSME, microfinance, and consumer finance sectors,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

While initial market sentiment has led to some share price fluctuations, the overall positive performance suggests a promising future for Northern Arc Capital.

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