Northern Arc Capital IPO allotment tomorrow: Check latest subscription, GMP

Northern Arc Capital Limited, founded in 2009, provides retail loans to underserved households and businesses across India. 

In Short

• Northern Arc Capital IPO closes September 19
• IPO price band set at Rs 249 to Rs 263
• GMP indicates 58.94% gain on listing day

The initial public offering (IPO) of Northern Arc Capital Limited will close for subscription on Thursday after having opened for bidding on September 16, 2024.

Northern Arc Capital IPO has its price band set at Rs 249 to 263 per share. The company aims to raise Rs 777 crore through the offering, which includes a fresh issue of 1.9 crore shares worth Rs 500 crore and an offer for sale of 1.05 crore shares amounting to Rs 277 crore.

Northern Arc Capital Limited, founded in 2009, provides retail loans to underserved households and businesses across India.

Subscription details of Northern Arc Capital IPO

The Northern Arc Capital IPO has witnessed strong interest from investors and has received bids of over 100 times.

The Northern Arc Capital IPO saw a subscription rate of 116.92 times.

As of 4:54:11 PM on September 19, 2024, the retail portion was subscribed 31.57 times, the Qualified Institutional Buyers (QIB) category 242.73 times, and the Non-Institutional Investors (NII) category 147.37 times.

Latest grey market premium (GMP) for Northern Arc Capital IPO

The Grey Market Premium (GMP) for Northern Arc Capital's IPO, as of 3:29 PM on September 19, 2024, is Rs 155.

With a price band of Rs 263, the estimated listing price is projected to be Rs 418 by adding the GMP to the cap price. This results in an expected gain of 58.94% per share.

The allotment for Northern Arc Capital's IPO is anticipated to be completed on Friday, September 20, 2024.

The company's shares are expected to be listed on the BSE and NSE, with a tentative listing date set for Tuesday, September 24, 2024.