Northern Arc Capital Limited, a diversified financial services platform has filed Draft Red Herring prospectus with market regulator Security Exchange Board of India (SEBI).
The company plans to raise funds via Initial Public Offerings through issue of equity share of face value Rs. 10 each comprising of fresh issue aggregating upto Rs. 500 crore (The “Fresh Issue”) and an Offer for Sale aggregating up to 21,052,629 equity shares (The “Offer for Sale”).
Northern Arc is a diversified financial services platform set up primarily with the mission of catering to the diverse retail credit requirements of the under-served households and businesses in India. Northern Arc has developed a domain expertise in enabling credit across the focused sectors in India, namely, micro, small and medium enterprises (“MSMEs”) financing, microfinance (“MFI”), consumer finance, vehicle finance, affordable housing finance and agricultural finance. Northern Arc has been operating in the MSME, MFI and consumer finance sectors for over 13 years, 14 years and eight years, respectively.
