Northern Arc Capital IPO booked over 110 times, allotment likely today: Steps to check status on NSE, Kfin Technologies

Northern Arc Capital IPO share allotment status is expected to be finalised today. The mainboard issues saw strong demand for the initial share sale on the last day of subscription on September 19.

The initial public offer of the non-banking financial company (NBFC) was booked 110.91 times. The QIBs booked their quota 240.79 times, while the NIIs subscribed to their category 142.41 times. The issue was subscribed over 31 times in the retail segment. The employees booked their quota 7.33 times.

The investors, who participated in the subscription of the mainboard issue, now await the share allotment status to be finalised by the company. Here are the steps to check share allotment status of Northern Arc Capital IPO on the websites of the issue registrar, BSE and NSE.

Steps to check Northern Arc Capital IPO share allotment status on the NSE

• Go to the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Enter your username and password. Investors, who do not have an account on the NSE, will need to create a new login if they are not registered on the NSE website.
• Choose ‘Northern Arc Capital’ from the drop-down menu for issue names.
• Enter PAN details.
• Enter your IPO application Number.
• Click submit and your allotment details will be shown on screen.

Alternatively, investors can also check the share allotment status of Northern Arc Capital IPO on the BSE website by using the application number and PAN details.

Steps to check Northern Arc Capital IPO share allotment status on registrar Kfin Technologies Limited website:

• Visit the IPO status page on Kfin Technologies website- https://ris.kfintech.com/ipostatus/
• Select 'Northern Arc Capital'
• Enter your application number or PAN or Demat account number
• Type in the captcha and click on submit
• The share allotment status will appear on the screen

After finalising the share allotment status, Northern Arc Capital will initiate refunds for non-allottees on Monday, September 23. The companies' shares will be credited to the demat accounts of successful bidders on the same day. Northern Arc Capital shares are scheduled to be listed on the NSE and BSE on Tuesday, September 24.

Northern Arc Capital IPO details

Northern Arc Capital IPO was worth ₹777 crore. The mainboard public offer comprised a fresh issue of 1.9 crore shares aimed at raising ₹500 crore and an offer-for-sale of 1.05 crore shares amounting to ₹277 crore.

Northern Arc Capital IPO price band was fixed at ₹249 to ₹263 per share. The minimum lot size to apply for Northern Arc Capital IPO was 57 shares, which aggregated to an investment of ₹14,991.

Northern Arc Capital plans to use the net proceeds to meet future capital requirements toward onward lending.

Northern Arc Capital Limited, founded in 2009, offers financing for micro, small, and medium enterprises (MSMEs), microfinance (MFI), consumer finance, vehicle finance, affordable housing finance, and agricultural finance. Between FY22 and FY24, it saw a CAGR rise of 18% in its AUM and 20% in its profit. Moreover, the Indian retail credit market is expected to grow at a CAGR of 17-18% between FY24 and FY26 to reach ₹100.9 trillion, which could benefit the company.