IPO Status Check: The allotment date for the IPO of Northern Arc Capital is September 20, with a lot size of 57 shares.
Northern Arc Capital plans to conclude the share allotment basis on Friday, September 20. Bidders will receive notifications, alerts, or emails regarding the debit of their funds or the revocation of their IPO mandate either over the weekend or by Monday, September 23. The shadow lender garnered a historic reaction from investors during the bidding process.
Northern Arc Capital IPO Details
The Northern Arc Capital IPO was open for bids from September 16 to September 19. The company offered its shares at a fixed price band of Rs 249-263 per share, with a lot size of 57 shares. The issue size of the company is around Rs 777 crore from its initial offering, which included a fresh share sale of Rs 500 crore and an offer to sell up to 1.05 crore shares.
The subscription status of Northern Arc Capital’s IPO drew significant bids, with 110.91 times subscribed. Qualified institutional bidders (QIBs) booked their quota 240.79 times. The non-institutional investors subscribed 142.41 times. Employees and retail investors subscribed 31.08 and 7.33 times, respectively, at the auction.
Northern Arc Capital IPO GMP Today
The grey market premium (GMP) of Northern Arc Capital has fallen following robust bids for the issue amid volatility. Last heard the company was commanding a premium of Rs 128-130 per share, implying a listing increase of almost 50% for investors. When the issue was available for bidding, the price was around Rs 200 per unit.
Northern Arc Capital, based in Chennai, was founded in 2009 and provides retail loans to poor Indian households and businesses. Its business approach is diverse, encompassing various offerings, sectors, products, countries, and borrower categories. As of March 31, 2024, it had facilitated over Rs. 1.73 lakh crore in finance, benefiting over 10.18 crore people in India.
The book-running lead managers of the Northern Arc Capital IPO are ICICI Securities, Axis Bank, and Citigroup Global Markets India, with Kfin Technologies serving as the issuing registrar. Tuesday, September 24 is the listing date set for The Northern Arc Capital IPO on both the BSE and NSE.
How To Check Northern Arc Capital IPO Allotment Status?
Investors who bid for the Northern Arc Capital offering can check the allotment status on the Bombay Stock Exchange’s (BSE) website.
- Visit https://www.bseindia.com/investors/appli_check.aspx
- Under the issue type, click Equity
- Under the issue name, select Northern Arc Capital Ltd
- Enter the application number
- Add your PAN card ID
- Click on ‘I am not a Robot’ and hit submit
Investors can also verify the allotment status using the online portal provided by KFin Technologies Limited, the issue’s registrar.
It is a Sebi-registered company. The registrar is responsible for fulfilling deadlines for updating the electronic credit of successful applicants’ shares, issuing and uploading reimbursements, and responding to all investor inquiries.
- Go to the web portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus)
- If the allotment has been finalized, choose the IPO name from Dropbox.
- Select one of the following modes: application number, demat account number, or PAN ID.
- In the application type, select between ASBA and non-ASBA
- Enter the details of the mode you selected in Step 2
- For security purposes, fill the captcha accurately
- Hit submit.
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