How To Check Northern Arc Capital IPO Allotment Status — Latest GMP Details Here

The initial public offering of Northern Arc Capital Ltd. received a tremendous response from investors with the initial public offering getting subscribed 110.9 times on Thursday, led by demand from Qualified Institutional Buyers.

The Rs 777 crore IPO received bids for 2,38,22,43,807 shares against 2,14,78,290 shares on offer, as per NSE data.

• Qualified institutional buyers: 240.79 times.

• Non-institutional investors: 142.41 times.

• Retail investors: 31.08 times.

• Reserved for employees: 7.33 times.

The 4-day IPO was subscribed 21.51 times on Wednesday. It was subscribed 10.61 times on Tuesday and 3.08 times on Monday, the first day of subscription.

The company is aiming to raise up to Rs 776 crore from the offering, which includes a fresh issue of equity shares worth Rs 500 crore and an offer for sale of Rs 275 crore.

The allotment for Northern Arc Capital IPO will be finalised on Friday, September 20. The company is set to list on the BSE and the National Stock Exchange on Tuesday, September 24.

Investors who bid for the issue can check the allotment status on BSE and KFin Technologies Ltd.

• Visit the KFin Technologies website here.

• Select any one link to check your IPO Allotment Status.

• Choose 'Northern Arc Capital Limited' from the list of IPOs listed in the dropdown. (The name will be displayed once the share allocation is finalised)

• Select either of Application Number, Demat Account or PAN to verify your allotment status.

• Enter the required information, i.e. your application number, PAN (Permanent Account Number) or Demat Account number.

• Enter the 'captcha' to verify that you are not a robot.

• Finally, click the 'Submit' button to check your allotment status.

• Visit the BSE IPO allotment page here.

• Select the issue type as 'Equity'.

• Choose 'Northern Arc Capital Limited' from the Issue Name dropdown menu.

• Enter your Application number or PAN (Permanent Account Number).

• Complete the 'Captcha'.

• Click on the 'Search' button to view your allotment status.

• Download/print the allotment status for your records.

The grey market premium of Northern Arc Capital is Rs 128 as of 2:31 p.m. on September 20, implying a 48.67% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 391 per share.

GMP is not an official price quote for the stock and is based on speculation. 

The non-banking financial company has set a price band of Rs 249–263 per share for its four-day IPO.

The minimum application lot size is 57 shares. Ahead of the IPO, Northern Arc Capital allotted 87 lakh shares at Rs 263 per share to 15 anchor investors, raising Rs 228.9 crore.

• Issue opens: Sept. 16.

• Issue closes: Sept. 19.

• Issue price: Rs 249 to Rs 263 per share.

• Fresh issue: Rs 500 crore.

• Offer for sale: Rs 276 crore.

• Bid lot: 57 shares.

• Listing: BSE and NSE. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.