Arcil Rs 733-crore IPO to open on September 9; institutional investors invest Rs 220 crore via anchor book

As per the latest business developments, New York-headquartered global investment firm Avenue Capital Group and State Bank of India-promoted Asset Reconstruction Firm India (Arcil) have mobilised Rs 219.89 crore by finalising the allocation of 1.58 crore equity shares to 21 institutional market participants through the anchor book on September 8.

The firm is set to open its Rs 733-crore initial public offering (IPO) for public subscription on September 9, with a price range of Rs 132-139 per share. The offering, which comprises entirely an offer-for-sale (OFS) by promoters and market participants, will close on September 11.

Global market participants including Goldman Sachs, Ashoka WhiteOak ICAV, Societe Generale, BofA Securities Europe and Integrated Core Strategies participated in the firm's anchor book.

Of the total anchor allocation, Arcil allocated 81.29 lakh equity shares to 12 schemes of six domestic mutual fund houses — White Oak Capital, Aditya Birla Sun Life AMC, Bandhan Mutual Fund, Tata Mutual Fund, JM Financial Mutual Fund and Groww Mutual Fund.

As the IPO is entirely an offer-for-sale, the firm will not receive any proceeds from the public offering. The IPO proceeds, excluding offering expenses, will be received by Avenue India Resurgence, State Bank of India, Lathe Investment, which is owned by Singapore's sovereign wealth fund GIC, and Federal Bank.

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Arcil, the first asset reconstruction firm incorporated in India in August 2003, acquires stressed assets from banks and financial institutions and implements resolution strategies through restructuring, enforcement of rights over underlying securities and settlements, with the aim of maximising recoveries and optimising the value of such stressed assets to generate topline streams.

On the financial front, the firm recorded topline of Rs 753 crore for the year ended March 2026, up 26.3 percent from Rs 596.4 crore in the previous year. Earnings during the same period increased 14.8 percent to Rs 407.8 crore from Rs 355.3 crore.

IIFL Capital Services, IDBI Capital Markets & Securities and JM Financial are acting as the merchant bankers managing the Asset Reconstruction Firm India IPO.