Registered with the RBI as a systemically important, non-deposit taking non-banking finance company (NBFC), it has been operating in the financial inclusion space for over a decade.
Those offering shares through the offer-for-sale include Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Augusta Investments II Pte Ltd, Eight Roads Investments Mauritius II Ltd, Dvara Trust and IIFL Special Opportunities Fund.
Northern Arc Capital may consider issuing equity shares on a private placement basis for cash consideration aggregating up to Rs 150 crore prior to the filing of the red herring prospectus with registrar of companies (RoC).
Proceeds from the fresh issue would be used towards augmenting the company’s capital base to meet future capital requirements.
Northern Arc is a leading player amongst the country’s diversified NBFCs, with a business model diversified across offerings, sectors, products, geographies and borrower segments. It provides access to credit to under-served households and businesses directly and indirectly through Originator Partners.
Northern Arc operates with a risk management framework that uses a combination of proprietary quantitative data analytics based on over 22 million unique data points and qualitative field-level insights that aid credit assessment and monitoring.
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, IIFL Securities Limited and SBI Capital Markets Limited have been appointed as the merchant bankers to advise the company on the IPO.
