S&R Associates Represented Northern Arc Capital In ₹7.7 Billion IPO
S&R Associates Represented Northern Arc Capital In ₹7.7 Billion IPO
S&R Associates represented Northern Arc Capital Limited, a diversified financial services platform in India, in its INR 7.7 billion initial public offering (IPO).
The price band for the IPO was set at ₹249 to ₹263 per equity share, with a face value of ₹10. The issue comprised a fresh issue of equity shares worth ₹500 crores and an offer for sale (OFS) of up to 10,532,320 equity shares, amounting to ₹277 crores, by investor shareholders. The total issue size aggregated to ₹777 crores.
The Northern Arc Capital IPO opened for subscription on 16 September and closed on 19 September. The allotment of shares was finalized on 20 September, and the company’s shares were listed on the BSE and NSE on 24 September.
ICICI Securities Ltd., Axis Bank Ltd., and Citigroup Global Markets India Private Ltd. acted as book-running lead managers for the IPO, while Kfin Technologies Ltd. served as the issue registrar.
The S&R Associates team was led by Partners Sandip Bhagat and Jabarati Chandra, with support from Associates Siddharth Urs, Akshaya Rengan, and Anushka Rungta.
