Northern ARC Capital sets IPO price band at Rs 249-263, issue valued at Rs 777 crore

Northern ARC Capital, a non-banking finance company (NBFC) focused on providing secured lending to small and medium enterprises (SMEs), has set a price band of Rs 249-263 per share for its initial public offering (IPO).

The IPO is expected to raise Rs 777 crore, which the company plans to use to augment its capital base and meet future growth requirements.

The issue will open for subscription on October 10 and close on October 12. The shares will be listed on the BSE and NSE.

Northern ARC Capital is a leading player in the SME lending space, with a loan book of over Rs 3,000 crore. The company has a strong track record of profitability and has been growing at a healthy pace in recent years.

The IPO is being managed by ICICI Securities, Axis Capital, and IIFL Securities.

Here are some key details about the IPO:

• Price band: Rs 249-263 per share
• Issue size: Rs 777 crore
• Opening date: October 10
• Closing date: October 12
• Listing: BSE and NSE
• Lead managers: ICICI Securities, Axis Capital, and IIFL Securities

Analysts expect the IPO to be well-received by investors, given the company's strong financial performance and growth prospects.

Northern ARC Capital is a growing NBFC with a strong focus on the SME lending segment. The company has a healthy loan book and has been profitable for several years.

The IPO is expected to provide the company with the capital it needs to continue its growth trajectory. Analysts expect the IPO to be well-received by investors, given the company's strong fundamentals and growth prospects.