Northern ARC Capital closes at 22% premium over issue price

24 Sep 2024 , 04:14 PM

Northern Arc Capital’s shares closed at ₹323.4 on the exchanges on Tuesday at a 22% premium. The stock debuted at Rs 351 on the BSE and Rs 350 on the NSE, versus an issue price of Rs 263.

The company, a leading non-banking financial company (NBFC) that specialises in retail loans, experienced an amazing reaction to its IPO, with a subscription rate of 117.19 times.

The company is a comprehensive financial services platform that was founded primarily to meet the diverse retail credit needs of underserved households and companies in India.

Its business approach encompasses various offerings, sectors, products, geographies, and borrower classifications. As of March 2024, the company had enabled approximately Rs 1.73 trillion in finance, benefiting more than 10 crore people in India.

Northern Arc uses a customised risk management system across all industries and channels, which is underpinned by a vast data library containing over 35.17 million data points. These data-driven insights, paired with secondary sources and field monitoring, improve the company’s risk models.

For feedback and suggestions, write to us at [e-mail]