Northern Arc Capital Limited — Others, 14-02-2025: Monitoring Agency Report

Northern Arc Capital Limited provided an update on the utilization of proceeds from its Initial Public Offer (IPO) for the quarter ended December 31, 2024. The total IPO size was ₹7,770 million, with a net fresh issue of ₹4,498.45 million. As of the end of the quarter, ₹2,513.97 million had been utilized for onward lending, while ₹1,984.48 million remains unutilized. The monitoring agency, CRISIL Ratings, confirmed that all proceeds were used in line with the prospectus. This clarity on financial management may enhance investor sentiment by highlighting the company's commitment to strategic growth and effective use of funds, indicating a positive outlook for future operations.