Daily Brief India: Northern Arc Capital, Adani Transmission and more

• Northern Arc Capital (0542390D IN) is looking to raise at least US$100m in its upcoming India IPO. The bookrunners on the deal are Citigroup, Axis Capital, and ICICI Securities.
• Northern Arc Capital (NAC) is a retail-focused non-banking financial company (NBFC) catering its banking services to the under-served households and businesses in India.
• According to CRISIL, NAC was one of the leading players amongst India’s diversified NBFCs in terms of AUM as of Mar 23.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Rakuten Group
• UPL Ltd