The initial public offer of non-bank financial institution Northern Arc Capital Ltd got subscribed 9.98 times on the second day of bidding on Tuesday.
The share sale received bids for 21,43,97,349 shares against 2,14,78,290 shares on offer, as per NSE data.
The quota for non-institutional investors received 21.71 times subscription while the Retail Individual Investors (RIIs) part got subscribed 10.82 times. The portion meant for Qualified Institutional Buyers (QIBs) garnered 20 per cent subscription.
Northern Arc Capital on Friday said it has collected Rs 229 crore from anchor investors.
The Rs 777-crore IPO of the Chennai-based company will conclude on September 19. The price has been fixed in the range of Rs 249-263 per share.
The IPO is a combination of a fresh issue of equity shares valued at Rs 500 crore and an Offer For Sale (OFS) of up to 1,05,32,320 equity shares worth Rs 277 crore, at the upper end of the price band, by investor shareholders. This aggregates the issue si
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