Northern Arc Capital shares list at 33% premium, misses GMP

Northern Arc Capital listing: The shares opened at Rs 351, with a premium of 33.5% over the IPO price of Rs 263 per share on the Bombay Stock Exchange (BSE).

Shares of Northern Arc Capital made a decent debut at the stock exchanges as it listed at a premium of 33% over its IPO issue price.

The shares opened at Rs 351, with a premium of 33.5% over the IPO price of Rs 263 per share on the Bombay Stock Exchange (BSE). It made a similar debut at the National Stock Exchange (NE) listing at Rs 350 per share.

The listing gains fell short of grey market expectations, where shares had been trading at a nearly 50% premium. The grey market is an unofficial platform where shares begin trading well before the offer is open for subscription and continue trading until the listing day.