Leading anchor investors have contributed INR 229 Cr (about $27.4 million) to non-banking lender Northern Arc Capital in advance of its initial public offering (IPO), which is scheduled to begin subscriptions on September 16.
15 funds received 87.02 lakh equity shares from Northern Arc at the public offer’s highest price range of INR 263 apiece. The total transaction value comes to INR 229 Cr as a result.
Among the anchor investors are Quant Mutual Fund, Societe Generale, Goldman Sachs (Singapore) Pte, Kotak Mahindra Life Insurance Company, Reliance General Insurance Company, SBI General Insurance Company, and SBI Life Insurance Company.
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