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Shares of Northern Arc Capital, a retail loan company, have been listed at a premium of about 34 percent. The stock was listed at Rs 351 per share on BSE. It was listed at Rs 350 on NSE. Northern Arc Capital's IPO received a great response. The IPO saw tremendous demand in the grey market. In the unlisted market, this IPO was trading at a premium of Rs 168. Already, the listing of Northern Arc Capital shares was expected to be at a premium.
About the Company
Northern Arc Capital was started in 2009. The company distributes retail loans. The company's focus is on MSME (Micro, Small and Medium Enterprise) finance, microfinance (MFI), consumer finance, vehicle finance, affordable housing finance and agriculture finance. It has been in MSME finance for about 15 years and in consumer finance for 9 years.
Details of IPO
The subscription of the IPO closed with huge demand on the last day of bidding on September 19. On the last day of bidding, Northern Arc Capital IPO was subscribed 111 times. In which applications were received for 238.22 crore shares as against 2.14 lakh shares. The retail portion of the IPO was subscribed 31.08 times, while the quota of non-institutional investors was subscribed 142.41 times. According to NSE data, qualified institutional buyers (QIBs) subscribed their category 240.79 times.
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