Tue Sep 24 15:18:40 UTC 2024: ## Northern Arc Capital IPO Raises ₹777 Crore

**Mumbai, India:** Northern Arc Capital, a non-banking finance company (NBFC), successfully raised ₹777 crore through its Initial Public Offering (IPO) on September 24, 2024. The IPO consisted of a fresh issue of shares worth ₹500 crore and an offer for sale (OFS) of up to 1,05,32,320 shares valued at ₹277 crore by existing investors.

The IPO was priced at ₹249 to ₹263 per share. The company plans to utilize the proceeds from the fresh issue to meet future capital requirements for lending.

Northern Arc Capital has demonstrated strong growth in recent years. Between FY 2021-22 and FY 2023-24, the company recorded a Compound Annual Growth Rate (CAGR) of 18% in its assets under management (AUM) and 20% in profits. This strong performance reflects the company’s commitment to the financial services sector and its ability to generate consistent returns.

The successful IPO launch signifies investor confidence in Northern Arc Capital’s future prospects and its potential to continue driving growth in the Indian NBFC market.

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