Northern ARC Capital Ltd News

Northern Arc secures $65 mn commitment from global firms for climate fund

NBFC firm Northern Arc on Thursday said it has secured USD 65 million from global development banks for maiden climate fund through its fund management arm, Northern Arc Investments IFSC Trust. The climate fund gets commitment of USD 50 million from the United States International Development Finance Corporation (DFC) and USD 15 million from OeEB, the official Development Bank of the Republic of Austria, Northern Arc said in a statement. Located in Gujarat International Finance Tec-City (GIFT City), the climate fund will extend debt financing to growth-stage companies operating in sectors such as commercial, industrial, and residential solar energy, energy efficiency, green buildings and materials, e-mobility, and sustainable agriculture, it said. Additionally, it will focus on businesses innovating in the circular economy, water segment and adaptation technologies that seek to reduce environmental impact and promote long-term resilience, it said. The fund aligns with India's broad

Northern Arc Capital Q2 results: Net profit rises 24% to Rs 98 cr

NBFC firm Northern Arc Capital, which listed on the bourses last month, reported a 24 per cent increase in consolidated net profit to Rs 96 crore for the second quarter ended September 2024. The lender had earned a net profit of Rs 79 crore in the same quarter in the previous financial year. The total income increased to Rs 585 crore during the quarter under review against Rs 437 crore in the same quarter last year, Northern Arc Capital Ltd said in a regulatory filing. Its net interest income (NII) rose to Rs 288 crore compared to Rs 196 crore a year ago. On the asset quality front, the gross non-performing assets (NPAs) ratio stood at 0.60 per cent, while net NPA stood at 0.18 per cent as of September 30, 2024. During the quarter, the NBFC firm raised fresh equity capital of Rs 500 crore through an initial public offering. Capital Adequacy Ratio stood at 24.9 per cent at the end of the second quarter. Asset Under Management grew by 22 per cent to Rs 12,309 crore as of September

Northern Arc Capital shares climb over 8% after Q2 results; NII grows 47%

Recently listed non banking financial company (NBFC) Northern Arc Capital shares rose 8.57 per cent at Rs 252 a piece on the BSE in Tuesday's intraday deals

Northern Arc aims to raise Rs 1,000 cr through alternate investment fund

Non-bank lender Northern Arc on Monday said one of its arms is aiming to raise Rs 1,000 crore in an alternate investment fund (AIF). The category II AIF aims to raise Rs 1,000 crore, and has the scope to raise an additional Rs 500 crore through the green shoe option. The "Finserv Fund" being launched by the recently listed NBFC's subsidiary Northern Arc Investment Managers (NAIM) will use the money for lending to six varied sectors which will help improve financial inclusion and economic growth, as per an official statement. The six sectors include small businesses, affordable housing, vehicle finance, agriculture finance, microfinance and consumer finance, it said. The AIF is targeting to invest in 45-55 entities across its four-year cycle and deliver an internal rate of return of 14-14.50 per cent to the investors, NAIM chief executive Bhavdeep Bhatt said. The investment strategy focuses on higher risk-adjusted returns and regular investor cash flows by investing in a diversifie

Northern Arc Capital share price rises 5% on strong June quarter results

Shares of Northern Arc, which listed on September 24 on the bourses, surged after reporting strong quarterly results in the June quarter of FY25 (Q1FY25).

Arkade, Northern Arc, Kross, Western Carriers, Tolins Tyres hit new lows

Stock market crash: Kross share price slipped 6 per cent to Rs 207.50 in the intraday trade today, falling 14 per cent below its issue price of Rs 240 per share

Northern Arc Capital makes stellar debut, lists at 33% premium on BSE, NSE

Northern Arc Capital shares listed at Rs 351 on the BSE, reflecting a premium of 33.40 per cent against the issue price of Rs 263