Monitoring agency report for the quarter ended June 30, 2025, in relation to the public issue of the Company.
NORTHARC · price
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Northern Arc Capital, an NBFC, has submitted the Monitoring Agency Report from CRISIL Ratings for the quarter ended June 30, 2025, covering the use of its IPO proceeds. The IPO was held from September 16-19, 2024, with a total issue size of Rs 7,770 million (Rs 5,000 million fresh issue and Rs 2,770 million offer for sale). Net proceeds stood at Rs 4,498.45 million after issue expenses of Rs 501.55 million. The sole object of the issue was to meet future capital requirements for onward lending, and the entire Rs 4,498.45 million had already been deployed by the quarter ended December 31, 2024. During the current quarter, an additional Rs 2.64 million was used towards IPO issue expenses, while Rs 223.65 million of unspent issue expenses remains parked in the company's public offer account with HDFC Bank. The Monitoring Agency confirmed no deviation from the stated objects and no major deviation from earlier reports.
This is a routine compliance filing confirming that IPO funds have been used as disclosed, with no deviations. It carries no material impact on shareholders or the stock price, though it does reaffirm that the company's lending capital base is fully deployed as planned.