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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Augmenting the capital base for onward lending
The company intends to use the net proceeds of the fresh issue to meet future capital requirements arising from the growth of its lending business.
(₹ in Crore)
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Northern Arc Capital Limited is a diversified financial services platform incorporated in 2009 (previously known as IFMR Capital), focused on serving the credit needs of underserved households and businesses across India. The company operates across multiple segments including micro, small and medium enterprises (MSME) financing, microfinance, consumer finance, vehicle finance, affordable housing finance and agricultural finance. It follows a multi-channel model that combines direct on-book lending with fund-based and fee-based structures, including guaranteeing the borrowings of a wide network of originator and investment partners such as financial institutions and fintech platforms. Over more than a decade of operations, the company has built deep domain expertise in its focus sectors, having supported financing exceeding Rs 1.73 trillion and reached over 10 crore individuals across India as of March 2024. It is a professionally managed institution without a single identifiable promoter, instead backed by a diverse group of institutional and marquee investors. The company is headquartered in Chennai, Tamil Nadu, and also runs fund management and loan placement businesses that generate recurring, capital-light income alongside its core lending operations. The company's growth strategy rests on a well-diversified funding profile spanning banks, offshore financial institutions and NBFCs, supported by proprietary data-driven risk management tools built from years of on-ground surveillance and portfolio data. Shares of the company were listed on the NSE and BSE on 24 September 2024 following a book-built initial public offering combining a fresh issue and an offer for sale by existing shareholders.
Promoter Name is not available
Ahead of the offer, the company raised approximately Rs 228.86 crore from anchor investors through the allotment of shares at the cap price of Rs 263 per share. Notable anchor participants included SBI General Insurance, SBI Life Insurance, Reliance General Insurance, Kotak Mahindra Life Insurance, Goldman Sachs (Singapore), Societe Generale and Quant Mutual Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 5:30 AM
Diversified partner network
The company works with a large and growing base of originator and investment partners spanning financial institutions and fintech platforms, spreading its lending exposure across sectors and geographies.
Proprietary risk management
A data-driven risk assessment framework built from years of on-field surveillance and portfolio data underpins its underwriting and monitoring, developed through numerous analytical models refined over time.
Diversified funding profile
The company draws funding from a broad mix of domestic banks, offshore financial institutions and other NBFCs, supported by proactive liquidity management and a strong credit rating.
Multiple revenue streams
Alongside on-book lending, its fund management and loan placement businesses generate recurring, largely fee-based income that complements interest income and diversifies earnings.
Intense industry competition
The company operates in a highly competitive retail and wholesale lending market, and an inability to compete effectively on pricing or partnerships could hurt its business and profitability.
Interest rate and liquidity risk
Mismatches between the tenure and repricing of its assets and liabilities could expose the company to interest rate and liquidity risks that affect its financial performance.
Exposure to underserved borrower segments
A meaningful part of the loan book serves relatively higher-risk retail and small business borrowers, which can lead to elevated credit costs in stressed conditions.
Northern Arc Capital Limited
No. 1, Kanagam Village, 10th Floor, IITM Research Park, Taramani, Chennai 600 113, Tamil Nadu, India
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Regulatory sensitivity
Changes in regulations governing NBFCs and microfinance lending could affect the company's operating model, capital requirements or growth plans.