Northern Arc Capital Secures Rs 229 Crore from Anchor Investors Ahead of IPO

Chennai-based non-banking financial company Northern Arc Capital has raised Rs 229 crore from anchor investors in the lead-up to its initial public offering (IPO). The company allocated 87.02 lakh equity shares to 15 entities at Rs 263 per share, marking the upper limit of the price band.

Key investors include Reliance General Insurance, Goldman Sachs (Singapore), Kotak Mahindra Life Insurance, SBI Life Insurance, Societe Generale, and Quant Mutual Fund.

The capital will support Northern Arc’s onward lending initiatives, focusing on underprivileged households and businesses across India. The company’s diversified lending portfolio spans microfinance, MSME, consumer finance, vehicle finance, and agricultural sectors.

Also Read: Newmi Care Secures $1.5 Million in Seed Funding to Expand Women’s Health Services

Northern Arc has a track record of securing notable investments, with FMO providing $75 million and IFC offering $80 million earlier this year.

Founded in 2008 by Ashish Mehrotra, Northern Arc Capital is committed to addressing the credit needs of underserved households and businesses in India.