Northern Arc Capital To Make Stock Market Debut Today

New Delhi: Shares of Northern Arc Capital are set to make their debut on Dalal Street today, with investors expecting significant gains. Despite a slight drop in its grey market premium (GMP), the company is still likely to offer a good return on listing.

What Latest GMP Indicate?Before the listing, Northern Arc Capital shares had a GMP of Rs 130 per share, indicating a potential 50 per cent gain for investors. However, this was lower than the Rs 145 premium seen when the share allotment was first announced.The company's IPO, which was open for bidding from September 16 to 19, had a fixed price range of Rs 249-263 per share, with a lot size of 57 shares. Northern Arc Capital raised about Rs 777 crore through the IPO, which included a fresh share sale of Rs 500 crore and an offer for sale of up to 1.05 crore shares.The IPO was highly popular, receiving an overall subscription of 110.91 times. The quota for qualified institutional buyers (QIBs) was subscribed a massive 240.79 times, while non-institutional investors subscribed 142.41 times. The portion reserved for employees and retail investors saw subscriptions of 31.08 times and 7.33 times, respectively.Brokerage firms have given positive reviews of the stock, recommending it for long-term investment. Axis Bank, ICICI Securities, and Citigroup Global Markets India were the lead managers for the IPO, while Kfin Technologies was the registrar. Northern Arc Capital's shares will be listed on both BSE and NSE today.