Northern Arc Capital IPO Allotment Today: Key Details, GMP Insights, and How to Check Your Status

the allotment status for the much-anticipated Northern Arc Capital IPO is set to be finalized. Investors who participated in this initial public offering (IPO) can now check their allotment status online. The IPO has garnered immense interest, being oversubscribed by a staggering 111 times. This article provides a comprehensive overview of the IPO, including its financial details, subscription status, and a step-by-step guide on how to check your allotment.

What is Northern Arc Capital IPO?

Northern Arc Capital Ltd., established in 2009, is a diversified non-banking financial company (NBFC) that focuses on providing credit access to underserved households and businesses across India. The company has facilitated over ₹1.73 lakh crore in financing, serving more than 10 crore customers as of March 31, 2024. The IPO aims to raise ₹777 crore through a combination of fresh issues and an offer for sale.

Northern Arc Capital IPO Date and Price Range

The Northern Arc Capital IPO opened for subscription from September 16 to September 19, 2024. The price band for the shares was set between ₹249 and ₹263 per share. Investors could apply for a minimum lot size of 57 shares.

Subscription Status

The response to the IPO has been overwhelmingly positive:

• Qualified Institutional Buyers (QIBs): Subscribed 240.79 times
• Non-Institutional Investors (NIIs): Subscribed 142.41 times
• Retail Individual Investors (RIIs): Subscribed 31.08 times

Overall, the IPO received bids for approximately 238.22 crore shares against just 2.14 lakh shares on offer, indicating strong demand across all investor categories.

Northern Arc Capital IPO GMP Today

As of today, the grey market premium (GMP) for Northern Arc Capital stands at ₹128, suggesting an estimated listing price of ₹391 per share based on current market speculation. This reflects a potential gain of around 48.67% over the upper price band of the IPO. However, it’s important to note that GMP is not an official price quote and is based on market speculation.

How to Check Northern Arc Capital IPO Allotment Status

Investors can check their allotment status through several platforms. Here’s a step-by-step guide:

On BSE Website:

1. Visit the BSE IPO allotment page.
2. Select ‘Equity’ as the issue type.
3. Choose ‘Northern Arc Capital Limited’ from the dropdown menu.
4. Enter your Application Number or PAN.
5. Complete the captcha verification.
6. Click on ‘Search’ to view your allotment status.

On Kfin Technologies Website:

1. Go to the Kfin Technologies website.
2. Select ‘Northern Arc Capital Limited’ from the list of IPOs.
3. Enter your Application Number or PAN.
4. Complete the captcha verification.
5. Click ‘Submit’ to check your allotment status.

Northern Arc Capital IPO Listing Date Prediction

The shares of Northern Arc Capital are expected to be listed on both the BSE and NSE on September 24, 2024. This will mark an important milestone for the company as it transitions into a publicly traded entity.

Financial Overview and Future Plans

Northern Arc Capital has shown impressive financial growth:

• Net Interest Income (NII): Increased by 67% year-on-year to ₹986 crore in FY24.
• Net Profit: Rose by 31% year-on-year to ₹318 crore.

The company plans to use the proceeds from this IPO primarily for future capital needs related to onward lending.

Risk Factors and Market Sentiment

Despite its strong performance and positive market sentiment, investors should be aware of certain risks associated with Northern Arc Capital:

• Negative Cash Flows: The company has experienced fluctuations in cash flow which could impact operations.
• Dependence on Specific Clients: A significant portion of revenue comes from select clients, posing a risk if those relationships falter.

Investors are advised to consider these factors alongside the company’s strengths when making investment decisions.