Northern Arc Capital stock drops
Initial Trading Performance (9:45 am – 10:31 am):
Northern Arc Capital stock drops made a remarkable debut, listing at ₹350 apiece on the NSE—an impressive 33% premium over the issue price of ₹263. On the BSE, shares opened at ₹351, reflecting a 33.4% premium.
However, shortly after listing, the stock began to decline. By 10:31 am, the shares were trading at ₹331, down 5.4% from their opening price.
Share Price Decline Throughout the Day
Price Movements (10:12 am – 11:45 am):
- At 10:12 am, the stock dropped 7.7% to ₹322.7 on the NSE.
- By 11:00 am, it further slipped to ₹330.1, a decline of 5.6%.
- At 11:21 am, the stock was trading at ₹322.5, marking a 7.8% loss from the opening.
- By 11:45 am, the shares hit ₹314.2 on the NSE, marking a 10.2% decline, and ₹313.9 on the BSE, reflecting a 10.5% fall.
Key Trading Statistics
Here’s a breakdown of the trading activity as of 11:21 am:
- Stock Price: ₹322.5 (-7.8%)
- Traded Volume: 227.13 lakhs
- Traded Value: ₹759.11 crore
- Market Capitalization: ₹5,200.45 crore
Financial Performance
Between FY22 and FY24, Northern Arc Capital exhibited strong growth:
- Revenue:
- FY22: ₹909 crore
- FY23: ₹1,304 crore
- FY24: ₹1,890 crore
- Net Profit:
- FY22: ₹181 crore
- FY23: ₹242 crore
- FY24: ₹317 crore
The company achieved a Compound Annual Growth Rate (CAGR) of 18% in its Assets Under Management (AUM) and 20% in net profit over these three years.
IPO Subscription Details
The ₹777 crore IPO was highly sought after, with subscriptions closing at 110.71 times the offering. Institutional investors led the charge, with their portion subscribed 240.79 times. Non-institutional investors (NIIs) subscribed 142.28 times their allotted quota, while retail investors (RIIs) oversubscribed 30.74 times.
Utilization of Fresh Issue Proceeds
Proceeds from the fresh issue, amounting to ₹500 crore, will be used to support Northern Arc Capital’s future capital requirements, primarily for onward lending.
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