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 seeing an encouraging response from banks and non-banking financial companies to its new Collection-as-a-Service (CaaS) business, as the asset reconstruction company looks to build fee-based businesses alongside its core stressed-asset resolution operations. According to The Hindu BusinessLine, CFO Pramod Kumar Gupta stated that "It's at the very beginning stage. We started about six months back, and we are getting a very encouraging response from the BFSI sector." The company sees its status as a regulated entity as a potential differentiator from conventional collection agencies, with Gupta noting that "Banks and NBFCs already use collection agencies, but ARCIL's experience in managing a large retail book and its regulatory framework could help it gain market share." The company currently manages nearly 3.5 million NPA customers and has already signed up clients, with ARCIL identifying collections-as-a-service as a new business vertical in its red herring prospectus filed on September 1, 2026.
ARCIL maintains a robust financial position with assets under management standing at ₹20,150 crore at the end of March, while its capital adequacy ratio is close to 65 per cent. The company's retail and SME business has grown nearly four times over the past five years, and accounts for almost 32 per cent of the business. ARCIL currently manages a retail book of about ₹4,500 crore, with principal outstanding of around ₹20,000 crore, covering nearly 35 lakh borrowers. The company is also exploring the microfinance institution (MFI) segment as another potential growth avenue, with Gupta stating that "The flavor of the stress cycle keeps changing. Five years back, it was corporate. Now it is retail and SME. So, we have created very strong franchises across all these three sectors." Despite increasing competition from other ARCs and alternative investment investors, Gupta sees sufficient room for growth as "the entire ARC industry together manages roughly about 10-12 per cent of the total stress that we see in the Indian BFSI system."
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. Following the OFS, Avenue India Resurgence and State Bank of India will bring their combined stake down to 78.67 per cent, while other investors will also sell their shares. 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.
