Asset Reconstruction Company (India) Ltd, better known as Arcil, on Thursday fixed a price band of Rs 132-139 per equity share for its <a href="https://www.mid-day.com/business/business-news/article/indian-firms-secure-rs-19-lakh-crore-through-ipos-in-fy26-23644071" target="_blank" rel="none noopener">Initial Public Offering (IPO)</a>, which is estimated to fetch up to Rs 733 crore.
The IPO, which is entirely an Offer For Sale (OFS), will open for public subscription on September 9 and close on September 11, according to a public announcement by the asset reconstruction firm.
The bidding for anchor investors will take place on September 8.
The issue comprises an OFS of 5.27 crore equity shares. The shares will be sold by promoters, Avenue India Resurgence Pte Ltd and <a href="https://www.mid-day.com/business/business-news/article/sbi-to-use-ai-extensively-for-fraud-prevention-proactive-risk-management-antimoney-laundering-chairman-cs-setty-23643675" target="_blank" rel="none noopener">State Bank of India</a>, along with existing shareholders Lathe Investment Pte Ltd and The Federal Bank Ltd.
Since the issue comprises only an OFS, Arcil will not receive any proceeds from the IPO. The entire proceeds from the share sale will accrue to the selling shareholders.
Explaining the rationale for the listing, Arcil in its Red Herring Prospectus (RHP) said the listing of equity shares will enhance its visibility and brand and provide liquidity to existing shareholders. It will also provide a public market for the company's equity shares in India.
At the upper end of the price band, the issue size is estimated at around Rs 733 crore, while at the lower end, it works out to Rs 696 crore.
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.
The company will be listed on the BSE and <a href="https://www.mid-day.com/business/business-news/article/nses-equity-options-market-share-reduces-over-22-per-cent-between-fy24-and-fy26-23641212" target="_blank" rel="none noopener">NSE</a> on September 17.
IIFL Capital Services, IDBI Capital Markets &amp; Securities and JM Financial are the merchant bankers to the issue.
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It is an OFS with promoters  Avenue India Resurgence and SBI, along with  shareholders Lathe Investment and The Federal Bank selling  5.27 crore shares

Arcil's Rs 733 crore-IPO to launch on September 9; price band set at Rs 132-139

Nirmala Sitharaman: India's 7.8 per cent growth in Q1FY27 remarkable against all odds

The issue comprises an OFS of 5.27 crore equity shares. The shares will be sold by promoters, Avenue India Resurgence and State Bank of India, along with existing shareholders Lathe Investment and The Federal Bank

Arcil's Rs 733 crore-IPO to open on September 9; price band set at Rs 132-139

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Home / Business / Business News / Article / Arcil's Rs 733 crore-IPO to open on September 9; price band set at Rs 132-139