Northern Arc Capital has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO).
According to the Draft Red Herring Prospectus (DRHP) filed with SEBI last week, the IPO is a combination of fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of up to 2.1 crore equity shares by investor shareholders.
Those offering shares through the OFS include Leapfrog Financial Inclusion India, Accion Africa-Asia Investment Company, Augusta Investments, Eight Roads Investments Mauritius, Dvara Trust and IIFL Special Opportunities Fund.
The Non-Banking Financial Company (NBFC) may consider mobilising up to Rs 100 crore in a pre-IPO round.
