Northern Arc Capital IPO allotment in focus today; latest GMP, step-by-step guide to check status

Northern Arc Capital shares will be allotted to successful bidders on September 20 after the Rs 777-crore initial public offer (IPO) received bids for 238 crore shares against 2.14 crore shares on offer. Northern Arc Capital IPO received a total of 110.71 times subscription. Earlier, the non-banking financial institution collected Rs 229 crore from anchor investors.

The maiden share sale of the Chennai-based company had a price range of Rs 249-263 per share. The bidders who subscribed to the issue can check their allotment status on the official website of the registrar, KFin Technologies.

Northern Arc Capital IPO allotment date today: Direct link to check status on KFin Tech

Step 1: Open the direct link to the registrar on this URL (https://evault.kfintech.com/ipostatus/).

Step 2: Select the company from the dropdown menu.

Step 3: Investors can check the allotment status by filling in details like PAN, Application number or DP client ID.

Step 4: Press the Submit button

Step 5: The allotment status will be shown in the window.

Northern Arc Capital IPO allotment status check on direct link of BSE

Step 1: Open the website of Bombay Stock Exchange (BSE).

Step 2: Click on ‘Investors’ option.

Step 3: On the ‘Investor Services’ dropdown, click on ‘Status of Issue Application’.

Step 4: Click on ‘Application Status Check’.

Step 5: Select Equity in the issue type.

Step 6: Fill in the required details including the ‘Issue Name’.

Step 7: Enter PAN number and click on Search to view the status

Northern Arc Capital IPO GMP today price

Northern Arc Capital shares are commanding a GMP in the price range of Rs 126-128 in the unlisted market, according to multiple platforms that track the grey market premium activities. The high GMP indicates a listing premium of nearly 50 percent for the shares on the stock market next week.

Northern Arc Capital shares will be listed on Tuesday, 24th September.

The IPO consists of a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of up to 1,05,32,320 equity shares valued at Rs 277 crore at the upper price band, by investor shareholders. This brings the total issue size to Rs 777 crore.

Funds raised from the fresh issue will be utilised to meet the company’s future capital needs for onward lending.

The company, registered with the Reserve Bank of India (RBI) as a systemically important non-deposit-taking non-banking financial company (NBFC), has been active in the financial inclusion space for over a decade.

Northern Arc is a leading player among diversified NBFCs in the country, with a business model spread across various sectors, products, geographies, and borrower segments. It provides credit access to underserved households and businesses, both directly and through originator partners.