Northern Arc Capital IPO Allotment Likely on Sept 20: How to Check Status Online

The Northern Arc Capital IPO received massive demand, closing on September 19 with overwhelming subscription numbers. As investors eagerly await the share allotment, the company is set to finalize the IPO allotment status on Friday, September 20. The IPO was subscribed nearly 111 times, with bids for 238.22 crore shares against the 2.14 lakh shares on offer.

The retail portion was subscribed 31.08 times, while non-institutional investors (NIIs) booked their quota 142.41 times. Qualified institutional buyers (QIBs) showed strong interest, with their category subscribed 240.79 times, according to NSE data.

Investors can check the Northern Arc Capital IPO allotment status via the BSE, NSE, and the issue registrar Kfin Technologies Limited. Below are the steps to check the status online:

How to Check Allotment Status on the BSE Website:

1. Visit the BSE website.
2. Navigate to the Application Status section.
3. Select “Equity” under Issue Type.
4. Choose Northern Arc Capital Limited from the dropdown.
5. Enter your PAN or IPO application number.
6. Click on “Search” to view the allotment status.

How to Check Allotment Status on Kfin Technologies:

1. Go to the Kfin Technologies website.
2. Click on Investor Services.
3. Select Public Issues.
4. Choose Northern Arc Capital Limited from the list of IPOs.
5. Pick an identifier (PAN, Application Number, DP/Client ID, or Account Number/IFSC).
6. Enter the required details.
7. Click Submit to check your status.

Investors can also check the allotment details via the NSE website using their PAN or Application Number.

The ₹777-crore IPO of Northern Arc Capital Ltd. included a fresh issue of 1.9 crore shares and an offer-for-sale (OFS) of 1.05 crore shares. The price band for the IPO was set at ₹249-263 per share.

The IPO was open for subscription from September 16 and is expected to list on both NSE and BSE on September 24. The company plans to use the IPO proceeds to support its future capital needs, particularly for onward lending.

Northern Arc Capital Limited, founded in 2009, specializes in providing retail loans to underserved households and businesses across India. The company has facilitated over ₹1.73 lakh crore in financing and serves more than 10 crore customers as of March 31, 2024. The company focuses on sectors such as MSME finance, microfinance, and consumer finance, contributing significantly to India’s financial inclusion efforts.

Disclaimer: The information provided in this article is based on updates and reports gathered from various internet sources. Every effort has been made to ensure accuracy and reliability. We encourage readers to verify the details independently.