Asset Reconstruction Company (India) Ltd (ARCIL) will open its IPO for subscription on September 9, 2026, with the issue closing on September 11, 2026. According to latest reports from The Financial Express, the IPO will be a book-built issue and will be listed on both BSE and NSE. The tentative listing date has been fixed as September 17, 2026, while the one-day anchor book for institutional investors will open on September 8, 2026. The IPO share allotment is expected to be finalised by September 16, 2026, while shares are likely to begin trading on the bourses on September 17, 2026. The listing will mark a historic milestone as ARCIL becomes the first asset reconstruction company in India to trade on a public stock exchange and the first ARC to tap the primary market for fundraising through a public issue.
ARCIL has fixed the price band for its IPO at ₹132-139 per share, with the issue valued at approximately ₹733 crore at the upper end of the price band. As reported by The Financial Express, at the upper end of the price band, the issue size works out to ₹732.97 crore, while at the lower end, it is estimated at ₹696 crore. Retail investors can bid for a minimum of one lot comprising 107 equity shares and in multiples thereafter. At the upper end of the price band, the minimum investment works out to ₹14,873. The IPO will be entirely an offer for sale of 5.27 crore shares of face value ₹10 each, with the price band yet to be announced. As reported by CNBC TV18, since the IPO is a 100% OFS, the company will not receive any proceeds from the issue. The money raised will go to the selling shareholders. The IPO size has been halved from the 10.54 crore shares planned in the OFS at the time of filing of the DRHP in August 2025.
ARCIL is moving beyond traditional asset acquisition to launch a collections-as-a-service business, targeting loans that have started showing signs of delinquency but have not yet become non-performing assets (NPAs). According to Mint, CEO and Managing Director Phanindranath Kakarla explained that "There is a huge early bucket which is SMA -1 (special mention accounts-1), SMA -2…There is a huge collection of services that need to be given for that, so those are the services we want to provide to them." The company will provide collection services to "banks and other financial institutions that may not necessarily want to sell us their stressed assets but still have NPA accounts or even early-stage stressed accounts that require collections support." As reported by Mint, ARCIL already manages nearly 3.5 million NPA customers, giving it a strong collection infrastructure, experienced team and wide geographic coverage. The company has already signed up clients and expects to begin working with institutions shortly, with ARCIL identifying collections-as-a-service as a new business vertical in its red herring prospectus filed on September 1, 2026.
Promoters Avenue India Resurgence, owned by New York-headquartered global investment firm Avenue Capital Group, and State Bank of India, along with investors Lathe Investment and Federal Bank, will be the selling shareholders in the OFS. According to The Financial Express, the Mumbai-based firm plans to raise ₹732.97 crore through the OFS route as shareholders will offload 5.27 crore shares of ₹10 each. Avenue India Resurgence and State Bank of India, the promoters, hold 69.73 percent and 19.95 percent stakes in ARCIL, respectively. Among public shareholders, Singapore's sovereign wealth fund GIC-backed Lathe Investment owns 5 percent, while Karnataka Bank holds 2.64 percent. South Indian Bank and Federal Bank each hold a 1.27 percent stake in the company. IIFL Capital Services, IDBI Capital Markets & Securities, and JM Financial have been appointed as the merchant bankers for the public issue, while MUFG Intime India serves as the registrar.
ARCIL's expansion into collections comes as the asset reconstruction companies (ARC) industry increasingly acquires larger volumes of smaller-ticket retail loans from NBFCs as corporate stressed assets become scarce and retail stress rises. According to Mint, security receipts issued against retail loans comprised 35% of total receipts in fiscal year 2026 (FY26), up from 25% in FY25, highlighting the growing share of retail loan in ARC acquisitions. ARCIL acquired about ₹5,959 crore worth of financial assets in FY26, with banks accounting for around ₹1,493 crore and non-bank financial companies accounting for ₹4,466 crore. The company's strongest growth currently comes from retail assets, particularly those originated by non-bank financial companies. CEO Kakarla noted that "Our corporate book is also growing, as are SME and other retail portfolios," adding that retail and SME assets are likely to account for a larger share of the portfolio as they grow faster than corporate assets. Latest reports from The Economic Times reveal that SBI and Federal Bank have gained 281% and 292% respectively on their ARCIL investments as the IPO launches.
Incorporated in February 2002, ARCIL is an asset reconstruction company that buys stressed assets from banks and financial institutions and works on recovery and resolution. As reported by The Financial Express, ARCIL was the first asset reconstruction company to be incorporated in India and received its certificate of registration from the Reserve Bank of India in August 2003. The company operates across three business verticals: corporate loans, SME and other loans, and retail loans, acquiring stressed secured and unsecured assets and using resolution, restructuring, enforcement, settlement and collection strategies. With operations across the country through a network of 13 offices in 12 states, including Delhi, the company acquires stressed assets from banks and financial institutions and implements resolution strategies through restructuring, with the aim of maximising recovery and optimising the value of such assets to generate revenue streams. Asset Reconstruction Company (India) Ltd (ARCIL) is engaged in the acquisition and resolution of stressed assets, primarily sourced from banks and financial institutions, seeking to recover value from distressed loans through a combination of resolution, restructuring, enforcement, settlement and collection strategies.
