InvestorQ : When is the IPO of Northern Arc slated to hit the Indian primary market?
Rutuja Nigam made post

When is the IPO of Northern Arc slated to hit the Indian primary market?

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5 months ago
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Northern Arc Capital has just filed the DRHP with SEBI for its primary market issue. It plans to issue shares worth Rs.300 crore as fresh issue and another 3.65 crore shares as offer for sale. Norther Arc is registered with RBI as a non-deposit accepting NBFC, with focus on the financial inclusion space. It will also privately place shares worth Rs.150 crore before filing the RHP with the Registrar of Companies or ROC.

Northern Arc Capital provides access to credit to under-served households and businesses directly and indirectly through Originator Partners. Like most NBFCs, the company will use the proceeds of the fresh issue to enhance its capital adequacy in order to expand its lending book with ease. It is likely to hit the market around the first or second week of August.

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