Northern Arc IPO Subscription Status: Northern Arc IPO Subscription status: The initial public offering of Northern Arc Capital IPO was subscribed 89.99 times till 4:45 pm on the last day of bidding. The Rs 777 core, public issue was opened for subscription on September 16 and oversubscribed on day 1. The non-institutional investors’ section got 134 times bidding, while the retail individual investor (RII) quota received 29.24 times subscription. The portion reserved for Qualified Institutional Buyers (QIBs) subscribed a whopping 173.18 times.
Northern Arc IPO Subscription Status
Total Subscription- 89.99 times
Employees Section – 6.48 times
Retail Individual Investors Section – 29.24 times
Non-Institutional Investors Quota – 134.84 times
Qualifies Institutional Buyers Section – 173.18 times
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Northern Arc IPO GMP Today
The shares of Northern Arc Capital IPO are trading with a premium of Rs 145 in the grey market, according to investorgain.com. The original IPO price of the shares is Rs 263 per share, while the stock are trading at Rs 408 per share, up 55.13.
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Northern Arc Capital IPO Details
Northern Arc Capital stated that it has raised Rs 229 crore from anchor investors. The Rs 777 crore IPO of the Chennai-based company will close on September 19. It has been priced at Rs 249-263 per share.
The public issue is a combination of a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of 1,05,32,320 equity shares worth Rs 277 crore at the upper end of the price band. This brings the total issue size to Rs 777 crore. The ones who shared the OFS are Lipfrog Financial Inclusion India (II) Limited, Action Africa-Asia Investment Company, Eight Roads Investment II Ltd. ), and the Trust.
