Northern Arc Capital IPO
Northern Arc Capital IPO — date, price band, lot size & details 2024
Northern Arc Capital listed on 24 Sep 2024 at ₹350, 33.1% above the ₹263 issue price.
Northern Arc Capital is a diversified financial services platform providing retail credit to under-served households and businesses in India. Its total income was Rs 1,906.03 crore in FY2024.
Stock price
Northern Arc Capital is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 16 Sep 2024
- Close 19 Sep 2024
- Allotment 20 Sep 2024
- Refund/credit 23 Sep 2024
- Listing 24 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 19 Sep, 2024 |
|---|---|
| Price Band | ₹249 – ₹263 |
| Face Value | ₹10 |
| Lot Size | 57 Shares |
| Issue Size | ₹777 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 24.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,991 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 57 shares at the ₹263 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 57 | ₹14,991 |
| Retail (max) | 13 | 741 | ₹1,94,883 |
| S-HNI (min) | 14 | 798 | ₹2,09,874 |
| S-HNI (max) | 66 | 3,762 | ₹9,89,406 |
| B-HNI (min) | 67 | 3,819 | ₹10,04,397 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 181.94 crore in FY2022 to Rs 317.69 crore in FY2024.
- 02Total income rose from Rs 916.55 crore in FY2022 to Rs 1,906.03 crore in FY2024.
- 03The pre-issue P/E was 11.78 at the upper band of Rs 263, based on EPS of Rs 22.32.
- 04Rs 500.50 crore of the issue was fresh capital for lending growth.
- 05Net worth grew from Rs 1,739.04 crore on 31 March 2022 to Rs 2,314.35 crore on 31 March 2024.
Risks · 5
- 01Total borrowing was Rs 9,047.76 crore on 31 March 2024, and the source puts debt to equity at 3.90.
- 02Lending to under-served borrowers carries higher credit risk in downturns, across over 101.82 million lives reached.
- 03Return on net worth was 13.32% as per the source.
- 04Rs 276.50 crore of the issue was offer for sale by investors.
- 05The company has no identifiable promoter, and assets were Rs 11,707.66 crore.
Three years of numbers
All figures in ₹ crore, as reported in the Northern Arc Capital offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 11,707.66 | 9,371.57 | 7,974.12 |
| Total Income | 1,906.03 | 1,311.20 | 916.55 |
| Profit After Tax | 317.69 | 242.21 | 181.94 |
| NET Worth | 2,314.35 | 1,955.39 | 1,739.04 |
| Total Borrowing | 9,047.76 | 7,034.57 | 5,982.96 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Northern Arc Capital RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Northern Arc Capital IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹22.32 | ₹19.69 |
| P/E Ratio (x) | 11.78 | 13.36 |
| Market Cap at Offer Price (₹ Cr) | ₹3,743.39 | ₹4,243.40 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹263 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹500.00 Cr of the issue is earmarked to named objects.
About the company
Over the last 15 years it has built a comprehensive play on the retail credit ecosystem across sectors. Since 2009 it has facilitated financing of over Rs 1.73 trillion, reaching over 101.82 million lives as of 31 March 2024.
As per the RHP, it has one of the lowest credit costs among diversified NBFCs in India. The company has no identifiable promoter.
The IPO was Rs 777 crore, with Rs 500.50 crore of fresh issue and Rs 276.50 crore of offer for sale by investors. Rs 500.00 crore was planned for onward lending.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Citigroup Global Markets India Pvt. Ltd
29 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Kalyan Jewellers India (-15.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Northern Arc Capital?
The current Grey Market Premium is ₹160, or 61% over the issue price.
What is the Northern Arc Capital IPO price band?
₹249 to ₹263, on a face value of ₹10.
When is the allotment?
The basis of allotment is 20 September 2024, with listing on 24 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
