Allotment Finalised After Strong Demand
Asset Reconstruction Company (India) Ltd, commonly known as Arcil, finalised the allotment of shares for its initial public offering (IPO) on September 15. The move follows robust investor interest in the company's Rs 732.97-crore public issue, which closed on September 11.
According to National Stock Exchange (NSE) data, the IPO was subscribed 20.10 times on the final day of bidding. Investors placed bids for 74.20 crore equity shares against the 3.69 crore shares available for subscription. The Qualified Institutional Buyers (QIB) segment showed the strongest interest, subscribing 52.65 times. The Non-Institutional Investor (NII) portion was subscribed 15.69 times, while the retail category saw a subscription of 3.39 times.
OFS Structure and Shareholder Exit
The IPO is structured entirely as an Offer-for-Sale (OFS) of up to 5.27 crore equity shares. Consequently, Arcil will not receive any fresh capital from the public issue. Instead, the proceeds, after deducting issue-related expenses, will accrue to the selling shareholders.
Key shareholders participating in the sale include State Bank of India (SBI), Avenue India Resurgence, Lathe Investment, and Federal Bank. Prior to the public subscription, Arcil raised Rs 219.89 crore through its anchor book, allotting approximately 1.58 crore shares to 21 institutional investors. These included global entities such as Goldman Sachs, Societe Generale, and BofA Securities Europe, as well as domestic mutual fund houses like Aditya Birla Sun Life AMC and Tata Mutual Fund.
Financial Performance and Business Model
Arcil, incorporated in 2003, operates in India's asset reconstruction sector. The company acquires stressed financial assets from banks and financial institutions and focuses on their resolution through restructuring, settlements, and enforcement of security interests.
Financially, the company has shown steady growth. For the fiscal year 2026 (FY26), Arcil reported revenue of approximately Rs 753 crore, a 26.3 percent increase from Rs 596.4 crore in FY25. Profitability also improved, with net profit rising 14.8 percent to Rs 407.8 crore in FY26, compared to Rs 355.3 crore in the previous year.
Listing Schedule and Grey Market Premium
The IPO price band was fixed at Rs 132-139 per share. The basis of allotment was released on September 15. Investors who were not allotted shares can expect refunds to be credited to their bank accounts on September 16. Successful applicants will have shares credited to their demat accounts on the same day.
The shares are scheduled to make their debut on the Bombay Stock Exchange (BSE) and NSE on September 17. On the morning of September 15, grey market premium (GMP) data from InvestorGain indicated a premium of around 11 percent. It is important to note that GMP figures are unofficial, derived from unregulated markets, and do not guarantee listing gains or reflect the company's fundamental value.
How to Check Allotment Status
Investors can verify their allotment status through the registrar, MUFG Intime India, or via the BSE and NSE websites.
For MUFG Intime, users can visit the IPO allotment page, select Asset Reconstruction Company (India) Ltd, and enter their PAN, application number, or DP/Client ID. Similarly, BSE and NSE provide dedicated portals where users can input their PAN or application number to check bid verification and allotment details.
IIFL Capital Services, IDBI Capital Markets & Securities, and JM Financial served as the book-running lead managers for the issue.