September 24, 2024
New Delhi, India
Northern Arc Capital IPO
Northern Arc Capital made a stellar debut on September 24, 2024, as its shares were listed at ₹351 on the BSE, a 33.46% premium over the issue price of ₹263. On the NSE, the stock opened at ₹350, registering a 33% increase from the IPO price.
Early Decline Post-Listing
Despite the strong opening, Northern Arc Capital shares experienced a quick decline. By 10:12 AM, the stock had fallen by 5.4%, trading at ₹331 per share on the NSE. Earlier, the shares dipped even further, down 7.7% to ₹322.7, signaling a volatile start to post-listing trading.
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IPO Details
Northern Arc Capital’s IPO was a mix of a fresh issue and an offer for sale (OFS). The company raised ₹500 crore through fresh issue shares and offered up to 1,05,32,320 shares, valued at ₹277 crore, through the OFS. The price band for the IPO was set between ₹249 and ₹263 per share.
Growth Highlights
Between FY22 and FY24, Northern Arc Capital demonstrated strong financial growth, with a compound annual growth rate (CAGR) of 18% in its assets under management (AUM) and 20% in profit. The strong demand during the IPO resulted in an oversubscription, leading to a positive listing day sentiment.
Market Outlook
While Northern Arc Capital’s shares showed initial volatility, investor confidence remains high due to the company’s solid financials and growth trajectory. The dip after listing could provide an entry point for long-term investors, with expectations of steady growth in the financial services sector.
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