Northern Arc Capital Shines as IPO Raises Rs. 777 Crores
Northern Arc Capital Limited's IPO successfully raised Rs. 777 Crores, with strong participation from institutional investors and retail investors. The company posted robust Q1FY25 results with key metrics showing growth. Northern Arc's lending AUM increased by 32% YoY, underscoring strong performance and future growth potential in underserved markets.
- Country:
- India
Mumbai, Maharashtra, India – Northern Arc Capital Limited, a diversified financial services platform, has achieved a significant milestone with its recent Initial Public Offering (IPO), raising Rs. 777 Crores. This remarkable success was fueled by robust participation from institutional investors, HNIs, and retail investors alike.
The company disclosed its financial results for Q1FY25, showcasing a strong performance across key business metrics. Pre-provision operating profit grew by 43% YoY to Rs. 175 Cr, while profit after tax also surged by 43% YoY to Rs. 93 Cr, indicating solid growth and resilience in the market.
Northern Arc, backed by prominent investors such as IFC and Sumitomo Mitsui Banking Corporation, remains dedicated to leveraging its expertise and technology to enhance credit access, particularly for underserved populations. The firm's diversified business model continues to lay a strong foundation for sustainable growth in the finance sector.
(With inputs from agencies.)
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