Northern Arc Capital Limited

LISTED

Mainboard IPO · IPO Guide

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Issue Price

₹249 – ₹263

Listed On

24 Sep 2024

Listing Price

₹350 (+33.08%)

Current Price LIVE

₹350 (+33.08%)

🧮

Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	57	₹14,991
Retail (Max)	13	741	₹1,94,883
S-HNI (Min)	14	798	₹2,09,874
S-HNI (Max)	66	3,762	₹9,89,406
B-HNI (Min)	67	3,819	₹10,04,397

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹263/sh

As per financials, Northern Arc Capital Limited has shown good results, RoNW is 13.32% and P/E is 23.32, 17.52 and 13.36 respectively as per FY22, FY23, and FY24 earnings. So, issue looks fairly priced as compared to listed peers. Company is a niche player on diversified financial services platforms. Performance of BRLM is good. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

Open Date	Sep 16, 2024
Close Date	Sep 19, 2024
Allotment Date	Sep 23, 2024
Listing Date	Sep 24, 2024
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 249 to ₹ 263 Per Equity Share
Issue Size	Total Equity Shares of 2,95,43,727 with aggregating up to Rs 777/- Cr Fresh Issue of Up to 1,90,11,407 with aggregating up to Rs 500/- Cr Offer for sale Up to 1,05,32,320 with aggregating up to Rs 277/- Cr
Retail Min Lot	1 Lot (57 Shares - ₹ 14,991)
Retail Max Lot	13 Lots (741 Shares - ₹ 1,94,883)
S-HNI Min Lot	14 Lots (798 Shares - ₹ 2,09,874)
S-HNI Max Lot	66 Lots (3,762 Shares - ₹ 9,89,406)
B-HNI Min Lot	67 Lots (3,819 Shares - ₹ 10,04,397)
Allocation	QIB: 50% \| NII: 15% \| RII: 35%
Registrar	KFin Technologies Limited
Lead Manager	Axis Capital Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Northern Arc Capital Limited Current	1.49	13.36	13.32%	1,906
Five-Star Business Finance Limited	4.25	24.5	17.5%	2,369
SBFC Finance Limited	3.31	34.4	10.5%	1,086
CreditAccess Grameen Limited	3.08	13.4	24.8%	5,509
Fusion Micro Finance Limited	1.09	8.89	19.6%	2,474
Bajaj Finance Limited	5.97	30.6	22.1%	58,567
Cholamandalam Investment and Finance Company Limited	6.78	36.3	20.2%	20,870
Poonawalla Fincorp Limited	3.75	25.2	13.9%	3,394
MAS Financial Services Limited	2.63	19.6	15.2%	1,357

As per financial performance, Northern Arc Capital Limited has posted total income / net profits of Rs 916.55 Cr / Rs 181.94 Cr (FY22), Rs 1,311.20 Cr / 242.21 Cr (FY23) and Rs 1,906.03 Cr / Rs 317.69 Cr (FY24). So as per previous financials data, company has shown good growth. Company has an average EPS of Rs 19.68 and average RoNW of 12.24% for last three fiscals. Issue is priced at a P/BV of 1.49 as per NAV of Rs 177.06/- as on 31.03.24. If we attribute latest earnings of FY22, FY23 and FY24, then asking price is at a P/E of around 23.32, 17.52 and 13.36 respectively. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, three lead managers are associated with this IPO, and have handled around 99 IPOs in last three fiscals. ICICI Securities Limited: This is 49th IPO from this BRLM. From last 10 IPOs, all opened above issue price or at par on the day of listing. As of now, from last 10 IPOs, one is trading below issue price and remaining are trading above issue price. (As on 16.09.24) Axis Capital Limited: This is 41st IPO from this BRLM. From last 10 IPOs, all opened above issue price or at par on the day of listing. As of now, from last 10 IPOs, one is trading below issue price and remaining are trading above issue price. (As on 16.09.24) Citigroup Global Markets India Private Limited: This is 12th IPO from this BRLM. From last 10 IPOs, all opened above issue price or at par on the day of listing. As of now, from last 10 IPOs, one is trading below issue price and remaining are trading above issue price. (As on 16.09.24) As per financials, Northern Arc Capital Limited has shown good results, RoNW is 13.32% and P/E is 23.32, 17.52 and 13.36 respectively as per FY22, FY23, and FY24 earnings. So, issue looks fairly priced as compared to listed peers. Company is a niche player on diversified financial services platforms. Performance of BRLM is good. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

Offer for Sale

1
(a) Sell upto 1,05,32,320 equity shares of the selling shareholders of the company.

Fresh Issue

1
(a) MSME finance (Rs 150/- Cr)
2
(b) Microfinance (Rs 150/- Cr)
3
(c) Consumer finance (Rs 150/- Cr)
4
(d) Vehicle finance (Rs 25/- Cr)
5
(e) Affordable housing finance (Rs 5/- Cr)
6
(c) Agricultural finance (Rs 20/- Cr)

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

50 Comments

S
sudhir 24 Sep 2024, 09:20

which price set for selling
B
Brijesh bavisi 23 Sep 2024, 19:32

*Listing Tomorrow* Northern Arc Arcade Dev. Hold or sell on preopen
M
Mahesh 23 Sep 2024, 07:36

I got 1/10..amount debited from account.. can i hold or sold on listing day... please suggest
A
amit 22 Sep 2024, 02:39

1/5
P
prince 21 Sep 2024, 17:44

kotak bank se rs debited ka msg aya but rs debit nahi hua why any idea ?
J
jay 21 Sep 2024, 17:18

0/5
A
akki 21 Sep 2024, 17:11

4/0
B
bhavesh shani 21 Sep 2024, 16:30

144
B
bhavik 21 Sep 2024, 13:14

latest premium?
S
Shubham shah 21 Sep 2024, 12:40

@ravan ismne kitna Mila?
S
SAVAN 21 Sep 2024, 10:41

0/5
P
prince 21 Sep 2024, 09:52

1 lot alloted to hua but bank se RS cut nahi hua why ??
P
prince 21 Sep 2024, 09:51

hi
S
Saurabh Taparia 21 Sep 2024, 09:38

no allotment
S
shailesh 21 Sep 2024, 09:18

0/17
M
maheshwari prasad 21 Sep 2024, 08:27

0/13
I
Ipo man 21 Sep 2024, 07:54

Ravan@ Lanka laak jayegi teri , Teri wajah se mera ipo laaga nahi 0/5
R
Ravan 21 Sep 2024, 07:43

@IPO man to fhi apni ma****** rha he mat dekh mere mgs . Tera number de Akhil knows me very well whatever I post about .
A
Arsa 21 Sep 2024, 07:08

1/1
M
Mukesh Lodhiya 21 Sep 2024, 02:03

https://kosmic.kfintech.com/ipostatus/
M
Mukesh Lodhiya 21 Sep 2024, 02:03

0/1
M
Mukesh Lodhiya 21 Sep 2024, 02:03

alotment out
N
naman 21 Sep 2024, 01:52

show ni hora kfintech p
M
me 21 Sep 2024, 01:51

allotment out??
N
n 21 Sep 2024, 01:31

hua kisika
H
hardik 21 Sep 2024, 01:20

send allotment link
H
hardik 21 Sep 2024, 01:18

allotment link
P
piyush umretiya 21 Sep 2024, 01:14

1/3
H
HIREN 21 Sep 2024, 00:56

0/5
H
Hardik Sheth 21 Sep 2024, 00:25

ok
H
hardik 21 Sep 2024, 00:24

no
H
Hardik Sheth 21 Sep 2024, 00:22

debiting start ya nai?
H
hardik 21 Sep 2024, 00:15

allotment late night ko aayega aisa lag raha hai?
I
Ipo man 20 Sep 2024, 22:49

@ ravan wahi toh tujhe samjha raha hun tere baap ka nahi toh tym tu q de raha hai Ma k lode
R
Ravan 20 Sep 2024, 22:46

@hard-dick @ akhil samj jaye pr tu nhi smja
R
Ravan 20 Sep 2024, 22:45

tere ko dimag rahega to tu samj jayega
R
Ravan 20 Sep 2024, 22:45

sabar rakh aayega
R
Ravan 20 Sep 2024, 22:45

@IpO bc tere ya mere baap ka nhi he na sebi
U
urstrulyparth 20 Sep 2024, 22:40

kab ayega bhai log allotment
I
Ipo man 20 Sep 2024, 21:58

tere ko bhot paata hai 10 baaj gaya kyun nahi aaya bol sale
I
Ipo man 20 Sep 2024, 21:57

likh aisa k 9-10 baje, sabko sapna thodi aa raha hai k tu kya kehna chahta hai
I
Ipo man 20 Sep 2024, 21:56

@ Ravan chuitye toh pura kaun tera chacha likhega
R
Rajiv Malhotra 20 Sep 2024, 21:56

when is the allotment is the?
H
hardik 20 Sep 2024, 21:52

allotment aayega to batauga ok
H
hardik 20 Sep 2024, 21:52

abhi tak allotment aaya nai hai
R
Ravan 20 Sep 2024, 21:32

ipo man chut marike maine likha he 9-10 baje allotment aayega
I
Ipo man 20 Sep 2024, 21:23

chutiye @ Ravan ko manba finance Ltd ka allotment mil chuka hai woh jhut nahi bol raha
I
Ipo man 20 Sep 2024, 21:22

chutiye @ nishil ko manba finance Ltd ka allotment mil chuka hai woh jhut nahi bol raha
D
deep 20 Sep 2024, 21:18

Ravan if you get allotment 9 out of 10 please send your pancard numbers allotment not out yet please don't fool people's shame
N
Neel 20 Sep 2024, 20:11

allotment on 23

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY24	1,906.03	1,484.83	317.69
FY23	1,311.20	988.10	242.21
FY22	916.55	668.16	181.94

Northern Arc Capital Limited

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