Northern Arc Capital IPO Opens For Bidding | IPO Open For Subscription

Northern Arc Capital Ltd.'s initial public offering opened on Monday, with the company aiming to raise up to Rs 776 crore. It secured Rs 228.9 crore from anchor investors on Friday, prior to the offering. The non-banking financial company has set a price band of Rs 249–263 per share for its three-day IPO. The offer includes a fresh issue of equity shares worth Rs 500 crore and an offer for sale of Rs 275 crore. The minimum application lot size is 57 shares. The IPO will conclude on Wednesday and it is set to be listed on the BSE and the National Stock Exchange. Proceeds from the fresh issue will be used to support the company's future capital requirements for lending.

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