Monitoring agency report for the quarter ended March 31, 2025, in relation to the public issue of the Company
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Northern Arc Capital, an RBI-registered NBFC, has submitted the CRISIL Ratings Monitoring Agency Report for Q4 FY25 covering its September 2024 IPO. The IPO raised Rs 7,770 million in total (Rs 5,000 million fresh issue + Rs 2,770 million offer for sale), with net proceeds of Rs 4,498.45 million earmarked for meeting future capital requirements towards onward lending. As of December 31, 2024, the entire net proceeds had already been deployed, and nothing remained unutilized at the end of the March 2025 quarter. Out of Rs 501.55 million in total issue expenses, Rs 275.26 million has been spent while Rs 226.29 million is parked in the public offer account with HDFC Bank. The monitoring agency confirmed no deviation from the objects stated in the offer document and no unfavorable events affecting the viability of the issue objects.
This is a routine compliance filing confirming full and timely deployment of IPO funds for the stated purpose, which is positive for corporate governance. With proceeds already deployed into lending, shareholders can expect these funds to contribute to future interest income growth, though the NBFC remains subject to RBI capital adequacy norms.