Shares of leading NBFC Northern Arc Capital received a strong response from investors, with its IPO being oversubscribed 110.71 times on the closing day. The shares made a strong debut on the NSE and BSE, listing at a premium of 33% to the issue price. Zee Business Managing Editor Anil Singhvi advises investors to keep a stop loss of Rs 330, while also discussing the company's diversified business model and successful fundraising from anchor investors. Readers can stay updated on this and more business news through Zee Business's various platforms.
Northern Arc Capital IPO: A Resounding Success
Northern Arc Capital, a leading non-banking financial company (NBFC) in India, recently launched its initial public offering (IPO), which was met with an overwhelmingly positive response from investors. The IPO was oversubscribed by a staggering 110.71 times on its closing day, reflecting the strong demand for the company's shares.
IPO Details:
Listing Performance:
Expert Insights:
Zee Business Managing Editor Anil Singhvi advised investors to maintain a stop loss of Rs. 330 for Northern Arc Capital shares. He highlighted the company's diversified business model, which includes lending to multiple sectors such as manufacturing, healthcare, and infrastructure.
Successful Fundraising:
Prior to the IPO, Northern Arc Capital had raised Rs. 120 crore from anchor investors, including Axis Mutual Fund, HDFC Life Insurance Company, and ICICI Prudential Life Insurance Company. This successful fundraising signaled strong investor confidence in the company's prospects.
Top 5 FAQs:
1. What is Northern Arc Capital's main business?
Northern Arc Capital provides loans and other financial services to small and medium-sized businesses (SMBs) in India.
2. Why was Northern Arc Capital's IPO so successful?
The IPO was successful due to the company's strong financial performance, diversified business model, and positive outlook for the NBFC sector in India.
3. What is the outlook for Northern Arc Capital's shares?
Analysts are generally optimistic about the company's future prospects. However, investors should conduct their own research and consult with financial advisors before making investment decisions.
4. Who are Northern Arc Capital's major competitors?
Northern Arc Capital's major competitors include other NBFCs such as Bajaj Finance, Shriram Finance, and Fullerton India Credit Company.
5. What is Northern Arc Capital's market capitalization after its IPO?
As of February 20, 2023, Northern Arc Capital's market capitalization stands at approximately Rs. 2,800 crore.
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