Northern Arc Capital’s IPO raised INR 7,770 million, with equity shares offered through a combination of fresh issuance and an offer for sale.
AZB & Partners recently provided legal counsel to the selling shareholders, including LeapFrog Financial Inclusion India (II) Limited, Accion Africa-Asia Investment Company, Eight Roads Investments Mauritius II Limited (formerly FIL Capital Investments (Mauritius) II Limited), and 360 One Special Opportunities Fund (formerly IIFL Special Opportunities Fund), in connection with Northern Arc Capital Limited’s successful initial public offering. The offering, which included both a fresh issuance and an offer for sale of equity shares, raised a total of INR 7,770 million.
The book-running lead managers for the IPO were ICICI Securities Limited, Axis Capital Limited, and Citigroup Global Markets India Private Limited.
The AZB team advising on the transaction included Senior Partners Varoon Chandra and Lionel D’Almeida, Senior Associate Bharat Mordani, and Associates Arika Gupta and Yagnesh Sharma.
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