Arcil makes muted debut; shares list at par with issue price

Representational Image. File pic.

Shares of Asset Reconstruction Company (India) Ltd, better known as Arcil, saw a flat market debut on Thursday, listing at par with the issue price of Rs 139.

The stock listed at Rs 139 on both the BSE and NSE. The shares later climbed 1.87 per cent to Rs 141.60 on the BSE.

The company's market valuation was Rs 4,421.85 crore.

The Rs 733-crore initial share sale of Asset Reconstruction Company (India) Ltd was subscribed 20.10 times on Friday last week.

Arcil fixed a price band of Rs 132-139 per share for its IPO, which was entirely an offer for sale (OFS). Since there was no fresh issue, Arcil did not receive any proceeds from the offering.

Asset Reconstruction Company (India) Ltd had garnered Rs 220 crore from anchor investors.

Arcil operates as an asset reconstruction company and is engaged in acquiring stressed assets from banks and financial institutions and implementing resolution strategies through restructuring, enforcement of rights over underlying securities and settlement.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.