The IPO comprises an issue of equity shares of Northern Arc Capital Limited (the “Company” or the comprising a fresh issue aggregating up to ₹3,000 million and an offer for sale of up to 36.52 million equity shares.
The offer for sale includes 8.99 million equity shares by Leapfrog Financial Inclusion India (II) Ltd, up to 2.31 million equity shares by Accion Africa-Asia Investment Company, up to 7.07 million equity shares by Augusta Investments II PTE. Ltd., up to 4.08 million equity shares by Eight Roads Investments Mauritius II Limited, up to 3.86 million equity shares by Dvara Trust, up to 5.04 million equity shares by IIFL Special Opportunities Fund, up to 1.23 million equity shares by IIFL Special Opportunities Fund – Series 2, up to 0.54 million equity shares by IIFL Special Opportunities Fund – Series 3, up to 1.86 million equity shares by IIFL Special Opportunities Fund – Series 4 and up to 1.52 million equity shares by IIFL Special Opportunities Fund – Series 5.
The offer includes a reservation for subscription by eligible employees not exceeding 5% of the Company’s post-offer paid-up equity share capital.
The Company may, at its discretion, consider issuing equity shares on a private placement basis for cash consideration aggregating up to ₹1,500 million, prior to the filing of the Red Herring Prospectus with the ROC (the “Pre-IPO placement”).
The Net Proceeds from the Fresh Issue are proposed to be utilized towards augmenting the company’s capital base to meet future capital requirements.
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, IIFL Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.