ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO: Company Review, Subscription and Allotment Updates
2026-09-09 — Company overview and issue details ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO (ABOUT THE COMPANY) ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) – COMPANY BACKGROUND Asset Reconstruction Company India Ltd (ARCIL)…
2026-09-09 — Company overview and issue details
ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO (ABOUT THE COMPANY)
ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) – COMPANY BACKGROUND
Asset Reconstruction Company India Ltd (ARCIL) has been in business since 2002 and is into the business of acquiring stressed assets from banks and financial institutions and implanting resolution strategies. The idea is to maximize the value of the assets so as to optimize the recovery. ARCIL operates across 3 key verticals viz; Corpoate Loans, SME Loans, and Retail Loans. It acquires stressed assets on single-credit basis and also on portfolio basis. Then it manages the resolution, enforcement, collection and disbursement. Its revenues are mainly from fee income and investment income.
The promoters of Asset Reconstruction Company India Ltd (ARCIL) are Avenue India Resurgence Pte Ltd and State Bank of India. The IPO will be entirely an offer for sale (OFS) component with no fresh issue component in the IPO. The OFS shares are being offered by the promoter shareholders of the company as well as by the early investor shareholders of ARCIL. The issue is being lead-managed by IIFL Capital Services, IDBI Capital Markets, and JM Financial; while MUFG Intime India Private Ltd is the IPO registrar.
HIGHLIGHTS OF THE IPO ISSUE OF ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL)
Here are the key highlights of the public issue of Asset Reconstruction Company India Ltd (ARCIL).
The IPO is open from September 09th, 2026 to September 11th, 2026. It has a face value of ₹10 per share and the IPO price band has been fixed in the range of ₹132 to ₹139 per share.
The IPO of Asset Reconstruction Company India Ltd (ARCIL) will be entirely an offer for sale of shares by the promoter and investor shareholders; and there will be no fresh issue component in the IPO.
The offer for sale (OFS) portion of the IPO comprises the sale of 5,27,31,946 shares (527.32 lakh shares), which at the upper price band of ₹139 per share, translates into an OFS size of ₹732.97 crore.
Since there is no fresh issue component, the overall IPO will also comprise of the offer for sale (OFS) portion comprising of 5,27,31,946 shares (527.32 lakh shares), which at the upper price band of ₹139 per share translates into overall issue size of ₹732.97 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 89.68% pre-IPO to 78.67% post-IPO.
The IPO of Asset Reconstruction Company India Ltd (ARCIL) will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on September 08, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Asset Reconstruction Company India Ltd (ARCIL)
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wednesday, 9 September, 2026 |
| IPO Close Date | Friday, 11 September, 2026 |
| Basis of Allotment | Tuesday, 15 September, 2026 |
| Initiation of Refunds to non-allottees | Wednesday, 16 September, 2026 |
| Credit of Shares to Demat | Wednesday, 16 September, 2026 |
| Listing Date on NSE and BSE | Thursday, 17 September, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 1,58,19,583 shares | 30.00% of total IPO size |
| QIB Shares Offered | 1,05,46,389 shares | 20.00% of total IPO size |
| NII (HNI) Shares Offered | 79,09,792 shares | 15.00% of total IPO size |
| Retail Shares Offered | 1,84,56,182 shares | 35.00% of total IPO size |
| Total Shares Offered | 5,27,31,946 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Asset Reconstruction Company India Ltd (ARCIL) for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹ 14,873 |
| Retail (Max) | 13 | 1,391 | ₹ 1,93,349 |
| S-HNI (Min) | 14 | 1,498 | ₹ 2,08,222 |
| S-HNI (Max) | 67 | 7,169 | ₹ 9,96,491 |
| B-HNI (Min) | 68 | 7,276 | ₹ 10,11,364 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 107 shares)
FINANCIAL HIGHLIGHTS OF ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL)
The table captures the key financials of Asset Reconstruction Company India Ltd (ARCIL) for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 753.04 | 596.42 | 570.14 |
| Sales Growth (%) | 26.26% | 4.61% | |
| Profit after Tax (₹ in crore) | 407.84 | 355.32 | 305.34 |
| PAT Margins (%) | 54.16% | 59.57% | 53.56% |
| Total Equity (₹ in crore) | 3,079.39 | 2,767.80 | 2,462.51 |
| Total Assets (₹ in crore) | 4,460.85 | 3,263.82 | 2,795.34 |
| Return on Equity (%) | 13.24% | 12.84% | 12.40% |
| Return on Assets (%) | 9.14% | 10.89% | 10.92% |
| Asset Turnover Ratio (X) | 0.17 | 0.18 | 0.20 |
| Earnings per share (₹) | 12.55 | 10.94 | 9.40 |
| Debt / Equity Ratio (X) | 0.39 | 0.11 | 0.06 |
| CRAR (%) | 65.31% | 88.41% | 98.14% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
Between FY24 and FY26, the net margins have been steady at above 50%, while the EBITDA margins have fallen over the last 3 years, but still robust at 65.3%. At the same, the ROE has been broadly flat at 13.2% in the latest year; largely due to the substantial size of equity and the high capital adequacy maintained by the company.
VALUATION METRICS OF ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO
At the IPO price of ₹139 (upper band), the stock gets discounted at a P/E ratio of 11.1X, based on the latest FY26 EPS of ₹12.55. That is reasonable valuations if one looks at the strong PAT margins and the elevated levels of EBITDA margins over the last 3 years. However, the bloated equity base and low ROE would mean that valuation ratios for the company will be capped.
There are some added advantages that the company brings to the table. It is oldest and largest ARC in India, with the second largest AUM. With the banking expertise at its disposal, it uses sophisticated credit appraisal methods to arrive at a recovery strategy. Investors can look at the IPO as a good way to participate in the asset stress solution business. However, being a long-term business, investors have to take a longer-term view.
2026-09-09 — Anchor allocation
ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO (ANCHOR ALLOCATION 30.00%)
BRIEF ON ANCHOR ALLOCATION OF ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL)
The anchor issue of Asset Reconstruction Company India Ltd (ARCIL) saw a strong response on 08th September 2026 with 30.00% of the IPO size absorbed by anchors. Out of 5,27,31,946 shares (527.32 lakh shares) on offer in the IPO; anchors picked up 1,58,19,583 shares (158.20 lakh shares) accounting for 30.00% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹139 per share. This includes the face value of ₹10 per share plus a share premium of ₹129 per share. The anchor bidding opened and closed on 08th September 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Asset Reconstruction Company India Ltd (ARCIL)
| Bid Date | September 08, 2026 |
|---|---|
| Shares Offered | 1,58,19,583 shares |
| Anchor Portion Size (₹ in crore) | ₹219.89 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Oct 13, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Dec 12, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL)
On 08th September 2026, Asset Reconstruction Company India Ltd (ARCIL) allotted 1,58,19,583 shares to a total of 21 anchor investors. The allocation was done at the upper IPO price band of ₹139 per share which resulted in overall anchor allocation of ₹219.89 crore. The anchors have already absorbed 30.00% of the total issue size of ₹732.97 crore, after factoring in the employee discount offered in the IPO, if any.
Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹179.89 crores, or, 81.81% of the overall anchor allocation of shares, one trading day ahead of the IPO of Asset Reconstruction Company India Ltd (ARCIL). The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Goldman Sachs India Equity Portfolio | 25,17,924 | 15.92% | ₹ 35.00 |
| 02 | ABSL Small Cap Fund | 18,70,467 | 11.82% | ₹ 26.00 |
| 03 | Bandhan Small Cap Fund | 18,70,467 | 11.82% | ₹ 26.00 |
| 04 | Tata Multi Asset Allocation Fund | 18,70,467 | 11.82% | ₹ 26.00 |
| 05 | Ashoka Whiteoak India Opportunities | 14,38,829 | 9.10% | ₹ 20.00 |
| 06 | Bajaj Life Insurance Ltd | 7,19,468 | 4.55% | ₹ 10.00 |
| 07 | Societe Generale - ODI | 7,19,468 | 4.55% | ₹ 10.00 |
| 08 | Whiteoak Capital Multicap Fund | 7,19,361 | 4.55% | ₹ 10.00 |
| 09 | BOFA Securities Europe - ODI | 6,07,630 | 3.84% | ₹ 8.45 |
| 10 | Integrated Core Strategies Asia | 6,07,630 | 3.84% | ₹ 8.45 |
| Grand Total | 1,29,41,711 | 81.81% | ₹ 179.89 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 1,58,19,583 shares allocated to the anchors in the IPO, there was an allocation of 81,29,432 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 12 MF schemes of 6 asset management companies (AMC). Mutual funds accounted for 51.39% of the overall anchor allocation.
Out of the 1,58,19,583 shares allocated to the anchors in the IPO, there was an allocation of 7,19,468 shares made to 1 life insurance company regulated by IRDAI, representing 4.55% of the total anchor allocation. The remaining anchor allocation was spread across FPIs, ODIs, SIFs, and alternate investment funds (AIFs).
NEXT STEPS IN ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO
Post the closure of the IPO subscription on 11th September 2026, the basis of allotment will be finalized on 15th September 2026 and the refunds will be initiated on 16th September 2026. In addition, the demat credits are expected to also happen on 16th September 2026 and the stock will list on 17th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 16th September 2026 under ISIN (INE148G01016).
2026-09-12 — Day-3 subscription update
Asset Reconstruction Company India Ltd (ARCIL) (Day-3 Final Subscription at 20.10 times)
ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.35 pm on 11th September 2026, out of the 369.12 lakh shares on offer in the IPO (excluding anchor portion), Asset Reconstruction Company India Ltd (ARCIL) saw bids for 7,419.75 lakh shares. This implies an overall subscription of 20.10X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Asset Reconstruction Company India Ltd (ARCIL) was as under:
| Employees (N.A.) | QIBs (52.65X) | HNI / NII (15.69X) | Retail (3.39X) |
|---|
The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 30.00% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 1,58,19,583 | 1,58,19,583 | 219.89 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 52.65 | 1,05,46,389 | 55,52,44,079 | 7,717.89 |
| HNIs / NIIs | 15.69 | 79,09,792 | 12,40,96,460 | 1,724.94 |
| Retail Investors | 3.39 | 1,84,56,182 | 6,26,34,055 | 870.61 |
| Total | 20.10 | 3,69,12,363 | 74,19,74,594 | 10,313.45 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Asset Reconstruction Company India Ltd (ARCIL) was open up to September 11, 2026, and has closed for subscription as of the close of trading hours on September 11, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹10,533.34 crore.
NEXT STEPS IN THE ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO
Post the closure of the IPO subscription on 11th September 2026, the basis of allotment will be finalized on 15th September 2026 and the refunds will be initiated on 16th September 2026. In addition, the demat credits are expected to also happen on 16th September 2026 and the stock will list on 17th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 16th September 2026 under ISIN (INE148G01016).
2026-09-12 — Allotment guidance and next steps
Asset Reconstruction Company India Ltd (ARCIL) IPO (How to check allotment status)
ABOUT THE ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO
The IPO of Asset Reconstruction Company India Ltd (ARCIL) opened on September 09th, 2026 and closed on September 11th, 2026. The overall IPO comprised of a fresh issue and an offer for sale (OFS) of 5,27,31,946 shares (527.32 lakh shares) worth ₹732.97 crore at the upper price band of ₹139 per share. The allotment status will be finalized by end of day (EOD) of September 15, 2026. Here is how to check your allotment status for the IPO of Asset Reconstruction Company India Ltd (ARCIL). You can check IPO status on the BSE website or on the NSE website or on the IPO Registrar website (MUFG Intime India Private Ltd).
CHECKING THE ALLOTMENT STATUS OF ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO ON BSE WEBSITE
This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Asset Reconstruction Company India Ltd (ARCIL) from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip OR
Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Asset Reconstruction Company India Ltd (ARCIL) allotted into your demat account. You can save a screenshot of the allotment status output for subsequently verifying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select ARCIL from the dropdown box
Enter the Application Number / CAF exactly as in the acknowledgement slip AND
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Asset Reconstruction Company India Ltd (ARCIL) allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) ON MUFG INTIME INDIA PRIVATE LIMITED (REGISTRAR TO THE IPO)
Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:
https://in.mpms.mufg.com/Initial_Offer/public-issues.html
There are 4 options available to you to access the allotment status, and you can use any of these options to query.
You can use PAN access. Enter the 10-character alphanumeric income tax permanent account number (PAN). Make it a point to verify your PAN before entering.
The second option is to use Application Number / CAF to query the allotment status in the IPO. The application / CAF number is available on the acknowledgement slip.
You can use DPID-Client ID combination. For NSDL combination is alphanumeric, while for CDSL, combination is numeric. This is available in your demat statement.
You can also query by the combination of your bank account number and IFSC number provided as the IPO mandate bank. It is available on your cheque book.
Finally, click on the SUBMIT button.
In case, you have any issues with the output, register an investor query with Link Intime India Private Ltd. You can either send an email with all requisite details and problem to ipo.helpdesk@in.mpms.mufg.com or you can call on (0)-81081-14949 for voice call.
NEXT STEPS IN THE ASSET RECONSTRUCTION COMPANY INDIA LTD (ARCIL) IPO
Post the closure of the IPO subscription on 11th September 2026, the basis of allotment will be finalized on 15th September 2026 and the refunds will be initiated on 16th September 2026. In addition, the demat credits are expected to also happen on 16th September 2026 and the stock will list on 17th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 16th September 2026 under ISIN (INE148G01016).
Interested in applying for this IPO?
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