Investors who invested in the recent IPO of financial services providing company Northern Arc Capital have made great profits. As soon as the company’s shares were listed on the market today on Tuesday, the IPO investors have got a return of 33 percent.
Got so much return with listing
Northern Arc Capital’s shares were listed on BSE this morning at Rs 351 with a premium of Rs 88, or 33.46 per cent. On the other hand, the shares were listed on NSE at Rs 350 with a premium of Rs 87, or 33.08 per cent. The company had fixed a price band of Rs 249 to Rs 263 in the IPO.
Investors earned this much money on each lot
If we look at the lot wise, then the investors have earned more than 5 thousand rupees on each lot with the listing. After listing on BSE, the value of one lot became Rs 20,007. That means the investors earned Rs 5,016 on one lot. The company had kept 57 shares in one lot of the IPO. In this way, the investors bidding in the IPO had to place a bet of at least Rs 14,991.
However, the share price fell after listing, which affected the returns to some extent. Shortly after listing, the stock fell by about 8 percent.
The company brought an IPO of Rs 777 crore
Northern Arc Capital Company was started in 2009. This finance sector company offers retail loans. The company’s IPO opened on 16 September and was available for bidding till 19 September. The total size of this IPO was Rs 777 crore, which included the issue of fresh shares worth Rs 500 crore and an offer for sale of Rs 277 crore.
Was trading with 55% GMP
The IPO received a good response in almost all categories. The IPO was subscribed 242.73 times in the QI category, 147.58 times in the NII category and 32.01 times in the retail category. Employees got a discount of Rs 24 on every share in the IPO. Before listing, its shares were trading with a premium of about 55 percent in the grey market.
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