Underwriters turn to A&O Shearman for the IPO of Northern Arc Capital Limited, one of India’s leading NBFCs

Northern Arc is a leading non-banking financial company, or NBFC, in India and a diversified financial services platform set up primarily with the mission of catering to the diverse retail credit requirements of under-served households and businesses in India. Over the past 15 years, its approach has been to create a differentiated and comprehensive play on the retail credit ecosystem in India spread across sectors. The company entered the financial inclusion space in 2009 and has since facilitated the financing of over INR1.73 trillion that has impacted over 101 million lives across India.

A&O Shearman advised as international legal counsel to the underwriters, highlighting its strong capabil1ities in India’s equity capital markets.

The transaction showcases A&O Shearman's expertise in India's equity capital markets, where the firm has advised on several landmark deals in recent years. Pallavi Gopinath Aney, A&O Shearman partner and Joint Chair of the firm’s India Group, said: "We are delighted to have assisted the underwriters on this IPO, which not only demonstrates that we are well-positioned to serve one of the world’s fastest growing economies, where the IPO activity is at a record high, but also showcases our ability to handle complex cross-border offerings and our deep understanding of the Indian market. This listing reflects the growing investor confidence for diversified NBFCs like Northern Arc, which plays a vital role in enhancing access to credit, driving financial inclusion and supporting economic development in India and we are proud to be part of its growth story."

The A&O Shearman team was led by Pallavi Gopinath Aney, Alexander Stathopoulos and Nabil Shadab.