Northern Arc Capital IPO allotment: Check status, GMP, likely listing gains

Northern Arc Capital allotment today: The basis of allotment of the initial public offering (IPO) of Northern Arc Capital is likely to be finalised today. The public issue of Northern Arc Capital, which ended for subscription yesterday, received a favourable response from investors, as they placed bids for a whopping 2,38,22,43,807 shares against 2,14,78,290 shares offered, resulting in an oversubscription of 110.91 times by the final day of subscription.

Qualified Institutional Buyers (QIBs) placed the highest bid for Northern Arc Capital IPO, ending with a subscription of 240.79 times in their reserved quota. This was followed by Non-Institutional Investors who bid 142.41 times, and Retail Individual Investors (RIIs) with 31.08 times subscription, as per the NSE data. 

 

Northern Arc Capital IPO allotment status

The shares of Northern Arc Capital are scheduled to be allotted today. Once the allotment is finalised, investors can check the allotment status of Northern Arc Capital IPO by visiting the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue.

Alternatively, investors can use the following links to check the allotment status directly:

- Check Northern Arc Capital IPO allotment status on BSE: https://www.bseindia.com/investors/appli_check.aspx
 

- Check Northern Arc Capital IPO allotment status on Kfin Technologies: https://kosmic.kfintech.com/ipostatus/
 

- Check Northern Arc Capital IPO allotment status on NSE: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

Northern Arc Capital grey market premium (GMP)

The unlisted shares of Northern Arc Capital continue to command a strong premium in the grey markets on Friday. Northern Arc Capital shares are currently trading at a premium of Rs 128 or 48.67 per over the upper band of the IPO price of Rs 263, according to several sources tracking grey market activities. This indicates a strong listing for Northern Arc Capital shares on the bourses.

Nevertheless, Northern Arc Capital IPO's grey market premium today has fallen nearly Rs 74 from Rs 202 quoted on September 17, and Rs 50 recorded on September 16, when the issue opened for public subscription.

Northern Arc Capital expected listing price

Following the allotment, shares of Northern Arc Capital are expected to make their debut on the bourses on Tuesday, September 24, 2024, by listing on BSE and NSE. Should the current grey market premium hold, shares of Northern Arc Capital may list around Rs 391, a premium of nearly 49 per cent from the upper band of the issue price.

Northern Arc Capital IPO comprised a fresh issue of 19,011,407 shares and an offer for sale of 10,532,320 shares with a face value of Rs 10 each. It was available at a price band of Rs 249-263, with a lot size of 57 shares. The subscription window to bid for the Northern Arc Capital IPO opened on Monday, September 16, 2024, and closed on Thursday, September 19, 2024.