Northern Arc Capital IPO opens on Monday: GMP, price band, other details in 10 points | Stock Market News
Source: Live Mint
Northern Arc Capital IPO: The mainboard initial public offering (IPO) of non-banking financial company (NBFC) Northern Arc Capital Limited will open for subscription on Monday, September 16. Registered with the Reserve Bank of India (RBI) as a systemically important NBFC, Northern Arc Ltd has operated in the financial inclusion space in the country for over a decade.
It is a leading player amongst the country’s diversified NBFCs, with a business model that spans offerings, sectors, products, geographies, and borrower segments. The NBFC provides access to credit to low-income and underserved households and businesses directly and indirectly through Originator Partners.
The company was founded to meet the various retail credit needs of India’s underserved families and companies. Over the past 15 years, the strategy has been to develop an all-encompassing play on India’s retail credit ecosystem across many industries. Between March 31, 2024, and March 31, 2023, the profit after tax (PAT) climbed by 31 per cent, and revenue increased by 45 per cent.
