Northern Arc Capital Ltd. has announced public offering of 29543726 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 253.00 per share. The gross proceeds of the issue are expected to be Rs 77,700.00 lakhs.
The company's initial public offer (IPO) will open on 16 September 2024 and is expected to close on 19 September 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 249.00-263.00 per share.
The IPO includes a fresh Issue of 29543726 Equity Shares of the Company at an price of Rs 263.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 57 shares with bids in multiples of 57.
Northern Arc Capital Ltd. anticipates using the proceeds of the issue for .
ICICI SECURITIES LTD,Axis Capital Ltd.,Citigroup Global Markets India Pvt. Ltd. as lead manager(s) & KFin Technologies Ltd. is the registrar, to the issue.