The initial public offering (IPO) of non-banking financial institution Northern Arc Capital Ltd received 110.71 times subscription on the closing day of the share sale on Thursday.
The Rs 777-crore share sale received bids for 2,37,79,44,639 shares against 2,14,78,290 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) got subscribed 240.79 times, while non-institutional investors subscribed the offer 142.28 times. The category for retail individual investors (RIIs) fetched 30.74 times 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 has a price 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 size to Rs 777 …
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