What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the estimated listing price for Northern Arc Capital Limited IPO?

Based on the upper price band of ₹263 and current GMP of ₹131, the estimated listing price is ₹394 (approx. 49.8% gain).

What is the expected profit per lot for Northern Arc Capital Limited IPO?

With a lot size of 57 shares and current GMP of ₹131, expected profit per retail application lot is approximately ₹7,467.

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Grey Market Intelligence

Northern Arc Capital Limited

ListedMainboard

Financial Services · NSE / BSE

Northern Arc Capital Limited, established in 2009, focuses on providing financial support to underserved households and businesses across India through a diverse range of lending solutions. By March 31, 2024, it had facilitated over ₹1.73 trillion in financing, reaching more than 101.82 million people. The company specializes in sectors like MSME finance, microfinance, consumer finance, vehicle finance, affordable housing, and agriculture finance. With a total AUM of ₹1,136,139.11 million, Northern Arc operates through multiple channels, including direct lending, retail lending, and placements. It also manages ₹120,785.58 million in assets through AIFs and PMS funds. Backed by advanced technology platforms like Nimbus and AltiFi, and a workforce of 2,695 employees, Northern Arc continues to drive financial inclusion and business growth across India.

Price Band

₹249 – ₹263

Issue Size

₹777 Cr

Lot Size

57 shares

GMP

₹131

+49.8%

Est. Listing

₹394

at current GMP

Subscribed

114.16x

overall

Open

16 Sep 2024

19 Sep 2024

Allotment

20 Sep 2024

Refund

21 Sep 2024

Demat Credit

22 Sep 2024

Listing

24 Sep 2024

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Northern Arc Capital Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹131+49.8%

Issue Price (Upper)

₹263

Band: ₹249 – ₹263

Estimated Listing Price

₹394

Upper price + GMP

Lot Size

57 shares

Min investment ₹14,991

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹131	49.8%	₹394
30 Oct 2026	+₹131	49.8%	₹394
29 Oct 2026	+₹118	44.8%	₹381

About Northern Arc Capital Limited Public Issue & Market Profile

Northern Arc Capital Limited is bringing an initial public offering (IPO) in the Financial Services sector with an aggregate issue size of ₹777 Crores. The shares are offered at a price band of ₹249 to ₹263 per equity share on NSE and BSE. Currently, market analysts recommend evaluating the company's financial valuation, price-to-earnings (P/E) multiple, and peer comparison prior to submitting bids.

Public Issue & Pricing Context:

The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.

Basis of Allotment & Listing Timeline:

Following the close of bidding on 2024-09-19, the basis of allotment is scheduled to be finalized on 2024-09-20. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Kfin Technologies Limited) or the BSE allotment checking window.

Frequently Asked Questions

What is Northern Arc Capital Limited IPO GMP today?

The latest grey market premium for Northern Arc Capital Limited IPO is ₹131, which indicates an expected listing price of ₹394.

What does Kostak Rate and Sauda mean in IPO GMP?

Kostak rate is the profit amount an investor earns by selling their entire IPO application in the grey market before allotment is finalized.

Is Grey Market Premium officially recognized?

No. GMP is an unofficial indicator discovered between dealers outside of SEBI-regulated exchanges. Actual listing price is determined by demand-supply discovery on NSE/BSE during the pre-open auction.