September 23, 2024
New Delhi, India
IPO
The Northern Arc Capital initial public offering (IPO) was open for subscription from September 16 to September 19, 2024. The allotment was finalized on September 20, and the tentative listing date on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is set for September 24, 2024.
Rising Grey Market Premium
Investor expectations for Northern Arc Capital’s IPO are building, as indicated by the rising grey market premium (GMP). As of September 23, the GMP stood at ₹132, suggesting that shares are trading at a premium of ₹131 in the grey market. This marks an increase from ₹128 on September 21, signaling growing investor confidence ahead of the listing.
Market Comparisons and Expectations
The optimism surrounding Northern Arc Capital’s IPO comes after the successful debut of Bajaj Housing Finance, which saw strong subscription levels. Market experts are now predicting that Northern Arc Capital shares will list at approximately ₹395, representing a potential gain of 50.19% over the IPO price of ₹263.
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Investment Insights
Grey market activity over recent sessions indicates that a strong listing is expected. According to investorgain.com the range of possible GMPs varies significantly, from a low of ₹0 to a high of ₹202. The rising GMP reflects heightened investor interest and anticipation of robust listing gains.
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