Northern Arc Capital IPO Subscription Status

Northern Arc Capital's initial public offering (IPO) has garnered strong investor interest, with subscription rates increasing over the four-day period. Starting modestly on day one, the IPO witnessed a surge in demand, resulting in an impressive 28.53 times oversubscription by 11:13:12 AM on day four. This response underscores the market appetite for Northern Arc Capital's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 16th September 2024, has seen significant growth in investor participation across most categories. Northern Arc Capital attracted bids for 57,92,54,121 equity shares amounting to ₹15,234.38 crore.
The Non-Institutional Investors (NII) segment, in particular, has shown overwhelming demand, while the Retail Investors and Qualified Institutional Buyers (QIB) have shown varying levels of interest.

This response to Northern Arc Capital's IPO comes amid the current sentiment in the Indian stock market, particularly towards companies in the financial services sector. The company's diversified business model across different offerings, sectors, products, geographies, and borrower categories appears to have resonated with investors looking for exposure to India's growing financial services industry.

Subscription Status of Northern Arc Capital IPO for Days 1, 2, 3, and 4:

On day 1, Northern Arc Capital IPO was subscribed 3.08 times. By the end of day 3, the subscription status had risen to 21.51 times; by 11:13:12 AM on day 4, it reached 28.53 times.
 

Subscription details for Northern Arc Capital IPO as of Day 4 (19th September 2024, 11:13:12 AM):

Total Applications: 3,981,161

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• The IPO of Northern Arc Capital is currently subscribed 28.53 times, with exceptional demand from Non-Institutional Investors.
• Non-Institutional Investors (NII) have shown overwhelming interest, with a subscription ratio of 77.02 times.
• Retail investors have demonstrated strong enthusiasm, with a subscription ratio of 23.50 times.
• Qualified Institutional Buyers (QIB) have shown modest interest, with a subscription ratio of 0.44 times.
• The overall subscription trend increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Northern Arc Capital IPO - Day 3 Subscription at 21.51 Times

Key Highlights:

• On Day 3, Northern Arc Capital's IPO was subscribed 21.51 times, with strong demand from Non-Institutional Investors (NII).
• NII showed significantly increased interest with a subscription ratio of 52.83 times.
• Retail investors showed increased interest with a subscription ratio of 19.93 times.
• Qualified Institutional Buyers (QIB) showed modest interest with a subscription ratio of 0.32 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

Northern Arc Capital IPO - Day 2 Subscription at 10.61 Times

Key Highlights:

• On Day 2, Northern Arc Capital's IPO was subscribed 10.61 times, with continued strong demand from Non-Institutional Investors (NII).
• NII showed significantly increased interest with a subscription ratio of 22.55 times.
• Retail investors showed increased interest with a subscription ratio of 11.32 times.
• Qualified Institutional Buyers (QIB) showed modest interest with a subscription ratio of 0.20 times.
• The overall subscription trend indicated growing momentum, with all investor categories showing increased participation.

Northern Arc Capital IPO - Day 1 Subscription at 3.08 Times

Key Highlights:

• The IPO of Northern Arc Capital was subscribed 3.08 times on Day 1, with strong initial demand from Non-Institutional Investors (NII).
• NII investors showed early interest with a subscription ratio of 4.66 times, indicating positive sentiment among this category of investors.
• Retail investors showed moderate initial interest with a subscription ratio of 4.09 times.
• Qualified Institutional Buyers (QIB) showed minimal initial interest with a subscription ratio of 0.02 times.
• The strong first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Northern Arc Capital Ltd:

• Northern Arc Capital Limited, founded in 2009, is a diversified financial services platform offering retail loans to underserved households and businesses in India.
• Key features of Northern Arc Capital:
• Provides customised financial solutions for various sectors including MSME finance, microfinance, consumer finance, vehicle finance, affordable housing finance, and agriculture finance
• Multi-channel approach: Lending, Placements, and Fund Management
• Facilitated over Rs. 1.73 trillion worth of financing, reaching out to over 101.82 million people across India
• Presence in 671 districts, 28 states, and seven union territories in India
• End-to-end integrated technology product suite

Highlights of the Northern Arc Capital IPO:

• Northern Arc Capital IPO Date: 16th September 2024 to 19th September 2024
• Listing Date: 24th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹249 to ₹263 per share
• Lot Size: 57 Shares
• Total Issue Size: 29,543,727 shares (aggregating up to ₹777.00 Cr)
• Fresh Issue: 19,011,407 shares (aggregating up to ₹500.00 Cr)
• Offer for Sale: 10,532,320 shares (aggregating up to ₹277.00 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Book Running Lead Managers: ICICI Securities Limited, Axis Bank Limited, and Citigroup Global Markets India Private Limited
• Registrar: Kfin Technologies Limited