Northern Arc Capital shares list at 33.5% premium over IPO price
Northern Arc Capital listed on the exchanges on Tuesday with a premium of 33.5%. The stock debuted at Rs 351 on BSE and Rs 350 on NSE against an issue price of Rs 263.
The company, a leading non-banking financial company (NBFC) specializing in retail loans, received an impressive response for its IPO, with a subscription rate of 117.19 times.
Analysts noted that the company's focus on serving underserved households and businesses positions it well in the competitive Indian retail lending market.
«While Northern Arc Capital has demonstrated growth in revenue and profit, challenges such as negative cash flow and a high debt-to-equity ratio need to be considered,» said Shivani Nyati, Head of Wealth, Swastika Investmart.
Net proceeds from the IPO are proposed to be utilized to meet future capital requirements for onward lending.
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