The company's recent 48% AUM growth in FY24, spurred by a one-time gain from asset recovery, masks underlying financial weaknesses. With a credit rating of BBB+ and an expensive valuation at 1.7x post-money book value, the risks far outweigh any potential gains.

The Northern Arc Capital IPO is a book-built issue worth Rs 777 crores. It includes a fresh issue of 1.9 crore shares totaling Rs 500 crores and an offer for sale of 1.05 crore shares amounting to Rs 277 crores.

The grey market premium (GMP) of BikeWo GreenTech IPO is Rs 15 as of 01:56 p.m. on Friday, implying a 24.19% gain over the IPO price.

The Rs 151 crore initial public offering (IPO) of Mumbai-based non-banking financial company (NBFC) Manba Finance is set to open for public subscription on September 23 and will close on September 25.

Once the allotment is finalised, investors can check the allotment status of Northern Arc Capital IPO by visiting the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue

Manba Finance is an entirely fresh offering of up to 1,25,70,000 shares without an offer of sale component, and it is a book-built issue of Rs 150.84 crores.