Northern Arc Capital IPO allotment expected soon: Check status, GMP, listing date and other details

The share allotment for the Northern Arc Capital IPO is expected to be announced later today. Investors will receive shares on a lottery basis, and the entire process is supervised by the registrar. On the allotment date, investors will find out the number of shares allotted to them compared to the bids they made.

They can check the allotment status through the BSE or by visiting the registrar’s website. Here’s how you can check the status on BSE or even on the registrar’s website.

Firstly, here’s how you can know the status on BSE

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)Step 2: Please select the issue name, that is the company’s name in the drop down.Step 3: Enter the application number or PAN number to check the allotment status.

To check the status of Northern Arc Capital IPO allotment through the registrar, which is Kfin Technologies in this case, kindly follow the below steps.

Step 1: Visit the Kfin Technologies website (https://kosmic.kfintech.com/ipostatus/)

Step 2: Select Northern Arc Capital IPO

Step 3: Enter the PAN details and click search to know the status

Northern Arc Capital GMP

The company’s shares are expected to get listed on the exchanges on September 24. In the unlisted market, the company’s shares are trading with a GMP of Rs 145, which translates to a premium of 55% to the issue price.

Also Read: Kalana Ispat IPO: Check issue size, price band, GMP and other details

Northern Arc Capital IPO subscription

Northern Arc Capital’s initial public offering (IPO) received an overwhelming response from investors, with an overall subscription of nearly 111 times at close. The company proposes to utilize the net proceeds to meet future capital requirements for onward lending.

Northern Arc is a diversified financial services platform set up primarily with the mission of catering to the diverse retail credit requirements of the under-served households and businesses in India.

Its business model is diversified across different offerings, sectors, products, geographies, and borrower categories. As of March 2024, the company has facilitated over Rs 1.73 trillion worth of financing, reaching out to over 10 crore people across India.

Northern Arc employs a customized risk management system across all sectors and channels, supported by its extensive data repository of over 35.17 million data points. These data-driven insights, combined with secondary sources and on-field monitoring, strengthen the company’s risk models.

According to a CRISIL report, the company had one of the lowest gross non-performing assets (GNPA) of 0.45% and net non-performing assets (NNPA) of 0.08%, as of FY24.

In FY24, the company’s net interest income (NII) rose 67% year-on-year (YoY) to Rs 986 crore, while net profit increased 31% YoY to Rs 318 crore.

ICICI Securities, Axis Bank and Citigroup Global Markets India are the book running lead managers for the IPO, while Kfin Technologies is the registrar.

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