Non-banking lender Northern Arc Capital has secured INR 229 Cr (around $27.4 Mn) from marquee anchor investors ahead of its initial public offering
SBI General Insurance Company, SBI Life Insurance Company, Reliance General Insurance Company, Kotak Mahindra Life Insurance Company, Goldman Sachs (Singapore) Pte, Societe Generale and Quant Mutual Fund are among the anchor investors
Founded by Ashish Mehrotra in 2009 Northern Arc provides credit facilities to MSMEs, Indian households, financial institutions and emerging businesses, including startups. It has backed startups like Rebel Foods, ProsParity, slice, BharatPe, among others
Non-banking lender Northern Arc Capital has secured INR 229 Cr (around $27.4 Mn) from marquee anchor investors ahead of its initial public offering (IPO), which will open for subscription on Monday (September 16).
Northern Arc allotted 87.02 Lakh equity shares to 15 funds at INR 263 apiece, which is the upper price band of the public offer. This aggregates the transaction size to INR 229 Cr.