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Northern ARC Capital Ltd IPO

Northern ARC Capital Limited is a diversified financial services platform set up primarily with the mission of catering to the diverse retail credit requirements of the under-served households and businesses in India. Over the last 15 years, its approach has been to create a differentiated and comprehensive play on the retail credit ecosystem in India spread across sectors. Since 2009, the company has facilitated financing of over Rs. 1.73 trillion that has impacted over 101.82 million lives across India, as of March 31, 2024. The Company has one of the lowest industry-wide credit costs amongst diversified NBFCs in India, as of March 31, 2024.

Northern ARC Capital Ltd IPO Details

Total Shares Offered

₹ 2,95,43,727

Offer to Public

1,05,32,320

Retail Max (Shares)

₹ 1,01,33,499

Pre Issue Promoters Holding

TBA

Exchange

BSE

Issue size

₹ 777 Cr

IPO Open Date

Sep 16, 2024

Close Date

Sep 19, 2024

Lot Size

Min Investment

₹ 14,193

Issue Type

Book Building

Listing Date

Sep 24, 2024

Northern ARC Capital Ltd IPO Dates

Sep 16, 2024

Opening date

Sep 19, 2024

Closing date

Sep 20, 2024

Basis of Allotment

Sep 23, 2024

Initiation of Refunds

Sep 23, 2024

Credit of Shares

Sep 24, 2024

Listing date

Details

Sector	Type
Sector	Finance & Investments
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	14476426
NII	0x	4342928
Retail	0x	10133499
Employee	0x	590874
Total	0x	29543727

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

14476426

4342928

10133499

590874

29543727

Northern ARC Capital Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	2,341.61	1,890.08	1,304.97
EBITDA	472.34	404.76	323.57
PAT	342.62	280.17	225.36
Total Assets	928.53	619.18	582.12
Share Capital	161.38	172.03	171.68
Total Borrowings	9,896.66	8,839.95	7,125.97
Operating Activities (Net Cash)	357.93	294.84	235.62
Investing Activities (Net Cash)	1,950.89	1,650.38	1,695.66
Financing Activities (Net Cash)	9,896.66	8,839.95	7,125.97
Net Cashflow	636.03	383.37	387.16

About Northern ARC Capital Ltd

Northern Arc Capital Limited was incorporated on March 9, 1989 at Madras, India as `Highland Leasing & Finance Private Limited', a private limited company under the Companies Act, 1956 and was granted a certificate of incorporation by the Registrar of Companies, Tamil Nadu at Chennai (RoC). The name of the Company was changed to `IFMR Capital Finance Private Limited' and a fresh certificate of incorporation dated June 19, 2009 was issued by the RoC. The Company was then converted into a public limited company under the Companies Act, 2013, and consequently, the name of the Company was changed to `IFMR Capital Finance Limited' and a fresh certificate of incorporation dated December 12, 2017 was issued by the RoC. Subsequently, the name of the Company was changed to `Northern Arc Capital Limited' and a fresh certificate of incorporation dated February 20, 2018 was issued by the RoC. The Company is registered with the Reserve Bank of India (the RBI) as a non-banking financial company (NBFC) not accepting public deposits (certificate of registration No. B-07.00430).

The Indian retail credit market is expected to further grow at a CAGR of 17-18% between Fiscals 2024 and 2026 to reach Rs. 100.9 trillion by Fiscal 2026. NBFCs loan outstanding for MSME, MFI, consumer finance, vehicle, affordable housing and agriculture loans are expected to grow at a CAGR of 13-15%, 23-25%, 17-20%, 12-14%, 14-16% and 9-10%, respectively, between Fiscals 2024-2026. Rural areas, which accounted for 47% of GDP, received only 9% of the overall banking credit, as of March 31, 2024, which also shows the vast market opportunity for banks and NBFCs to lend in these areas.

Peer Comparison:

Five-Star Business Finance Ltd
SBFC Finance Ltd
CreditAccess Grameen Ltd
Fusion Micro Finance Ltd
Bajaj Finance Ltd
Cholamandalam Investment & Finance Company Ltd
Poonawalla Fincorp Ltd
MAS Financial Services Ltd

Northern ARC Capital Ltd Key Points

Strengths

Large addressable and underpenetrated market with strong sectoral expertise.

Large ecosystem of partners and data and technology platform creating strong network effects.

Proprietary technology product suite transforming the debt market ecosystem.

Robust risk management based on domain expertise, proprietary risk models and data repository driving asset quality.

Diversified sources of funding for its own deployment and proactive liquidity management.

Risk

The company operates a diversified business model that exposes it to various risks and an inability to manage such risks may have an adverse effect on its business, results of operations, cash flows and financial condition.

If the company borrowers default in their repayment obligations it may lead to increased levels of non-performing assets (NPA), related provisions and write-offs, its business, results of operations, cash flows and financial condition may be adversely affected.

The company does not have any identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act, 2013.

Strategy

Enhance its ecosystem by growing and deepening relationships with its partners, while leveraging and scaling up its technology products.

Expand to adjacent sectors such as climate lending and gold loans, and enhance our ESG risk management systems.

Expand its Fund Management channel.

Continue to scale its Direct to Customer Lending channel to enhance risk adjusted returns.

Focus on credit quality to manage credit cost efficiently.

How To Apply for Northern ARC Capital Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Northern ARC Capital Ltd IPO?

Northern ARC Capital Ltd's IPO offers shares for up to 500 It begins on Sep 16, 2024 and ends on Sep 19, 2024.

What is the price of the Northern ARC Capital Ltd IPO?

The price of Northern ARC Capital Ltd IPO ranges between ₹249 to ₹263 per share.

What are the open and close dates for the Northern ARC Capital Ltd IPO?

The Northern ARC Capital Ltd IPO opens on Sep 16, 2024 and closes on Sep 19, 2024.

When will the Northern ARC Capital Ltd IPO be allotted?

The allotment for the Northern ARC Capital Ltd IPO will be finalised on Sep 20, 2024. The shares will be listed on BSE and NSE on Sep 24, 2024.

What is the minimum lot size required for Northern ARC Capital Ltd IPO?

The minimum lot size for Northern ARC Capital Ltd IPO is 57 shares, priced between ₹249 to ₹263 per share.

What is the GMP of Northern ARC Capital Ltd IPO?

The GMP (Grey Market Premium) of Northern ARC Capital Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Northern ARC Capital Ltd IPO?

To check the allotment status of Northern ARC Capital Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Northern ARC Capital Ltd IPO getting listed?

The Northern ARC Capital Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Sep 16, 2024, and closes on Sep 19, 2024. The allotment is finalised on Sep 20, 2024.

How do you apply for the Northern ARC Capital Ltd IPO?

To apply for the Northern ARC Capital Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.