People · Financial Services
Northern Arc Capital allots shares under employee plan
By Startup Enthusiast ·
- Date
- Company
- Northern Arc Capital
- What it does
- Debt financing for under-served segments
- Kind
- People
- Amount
- 1,44,000 equity shares
- Stage
- public
- Based in
- Chennai
- Sector
- Financial Services
What they do
Northern Arc Capital is a Chennai-based NBFC (non-banking financial company) providing debt financing to under-served households and businesses across India
What happened
The company allotted 144,000 equity shares to employees under its 2016 ESOP (employee stock ownership plan) following a board resolution
Why it matters
This allotment expands total paid-up share capital by roughly 0.089 percent and awaits listing clearance on BSE and NSE
The details
- The board of Northern Arc Capital approved the allotment of 144,000 equity shares to employees.
- These shares were issued under the company's ESOP Plan 2016.
- Each share has a face value of Rs. 10.
- The allotment increases the company's total paid-up capital to Rs. 161.80 crore.
- This represents an equity expansion of approximately 0.089 percent over the prior paid-up base.
- The company will now seek formal listing and trading approval from the BSE and NSE.
The bigger picture
- Northern Arc Capital completed its initial public offering in September 2024.
- The IPO raised Rs. 777 crore through a mix of fresh issue and offer for sale.
- The company is currently listed on major Indian stock exchanges under the ticker NORTHARC.
About the business
- Northern Arc Capital operates as a non-banking financial company based in Chennai.
- It facilitates debt financing for under-served households and small businesses.
- Its core credit areas span micro-loans, low-cost homes, commercial vehicles, and farming credit.
- It channels capital through both originator partnerships and direct lending models.
- The company maintains its registered office in Hyderabad.
What happens next
- The company plans to apply for listing and trading approval for the new shares.
The deal
- Type
- ESOP allotment
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