Non-banking financial institution Northern Arc Capital Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale.
The Initial Public Offering (IPO) is a combination of fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of up to 2.1 crore equity shares by investor shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday.
Those offering shares through the OFS include Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Augusta Investments II Pte Ltd, Eight Roads Investments Mauritius II Ltd, Dvara Trust, and IIFL Special Opportunities Fund.
Northern Arc Capital may consider mobilising up to Rs 100 crore in a pre-IPO round.
Proceeds from the fresh issue will be used to meet future capital requirements of the company towards onward lending.
Registered with the RBI, the company is a non-deposit taking non-banking financial company and has
| Subscribe To Our Free Newsletter |
