Northern Arc Capital: No Deviation in IPO Fund Utilization for Q3 FY27
Northern Arc Capital Limited has filed a statement confirming no deviation or variation in the utilization of proceeds raised through its Initial Public Offer (IPO). The funds were raised on September 23, 2024, amounting to ₹4,498.45 million (net of issue proceeds). The report covers the quarter ended September 30, 2026. CRISIL Ratings Limited is the applicable monitoring agency. The company stated that no approval is required to vary the objects of the issue as outlined in the prospectus. The Chief Financial Officer, Mr. Atul Tibrewal, confirmed the details on November 03, 2026.
Key Highlights
- No deviation reported in IPO fund utilization for the quarter ended September 30, 2026.
- Total IPO proceeds raised were ₹4,498.45 million (net).
- CRISIL Ratings Limited is the monitoring agency.
- No approval needed for variation in issue objects.
- Confirmation provided by CFO, Atul Tibrewal.
Price Impact
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