Asset Reconstruction Co.(India) IPO
Asset Reconstruction Company (India) IPO is a book-built Mainboard issue of ₹732.97 crore, comprising an Offer for Sale of 5,27,31,946 equity shares. The IPO is entirely an OFS and the company will not receive any proceeds from the issue. The shares are p
Asset Reconstruction Co.(India) IPO Details
Asset Reconstruction Company (India) IPO is scheduled to open for subscription on September 9, 2026 and close on September 11, 2026. The basis of allotment is scheduled for September 15, refunds and share credit are expected on September 16, and the shares are scheduled to list on September 17, 2026. The price band is ₹132 to ₹139 per share and the lot size is 107 shares.
Asset Reconstruction Co.(India) IPO GMP
The reported grey-market premium for Asset Reconstruction Company IPO was ₹0 on September 3, 2026 against the upper issue price of ₹139. This indicates no reported premium over the issue price at that time. GMP is unofficial, unregulated and can change before listing.
Asset Reconstruction Co.(India) IPO Timeline (Tentative)
Asset Reconstruction Company (India) IPO is scheduled to open on September 9 and close on September 11, 2026. The basis of allotment is expected on September 15, followed by refund initiation and Demat credit on September 16. Listing on the BSE and NSE is scheduled for September 17, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wed, Sep 9, 2026 |
| IPO Close Date | Fri, Sep 11, 2026 |
| Basis of Allotment | Tue, Sep 15, 2026 |
| Initiation of Refunds | Wed, Sep 16, 2026 |
| Credit of Shares to Demat | Wed, Sep 16, 2026 |
| Listing Date | Thu, Sep 17, 2026 |
| IPO Opens | September 9, 2026 |
| IPO Closes | September 11, 2026 |
| Basis of Allotment | September 15, 2026 |
| Refund Initiation | September 16, 2026 |
| Credit of Shares to Demat | September 16, 2026 |
| Listing Date | September 17, 2026 |
Asset Reconstruction Co.(India) IPO Lot Size
The Asset Reconstruction Company (India) IPO lot size is 107 shares. Retail Investors can apply for a minimum of 1 lot and a maximum of 13 lots. Small HNI Investors can apply for 14 to 67 lots, while Big HNI Investors can apply for a minimum of 68 lots. At the upper price band of ₹139, the minimum Retail application amount is ₹14,873.
| 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 |
Asset Reconstruction Co.(India) IPO Reservation
Asset Reconstruction Company (India) IPO reserves 50% of the Net Offer for Qualified Institutional Buyers, 15% for Non-Institutional Investors and 35% for Retail Individual Investors. An Anchor Investor portion of 30% is included within the institutional allocation.
Asset Reconstruction Co.(India) IPO Subscription
Asset Reconstruction Company (India) IPO has not opened for public subscription as of September 3, 2026. Therefore, category-wise and overall subscription figures are not yet available.
| Category | Subscription (times) |
|---|---|
| QIB | N.A. |
| NII | N.A. |
| RII | N.A. |
| Total | N.A. |
About Asset Reconstruction Co.(India)
Asset Reconstruction Company (India) Limited, popularly known as ARCIL, is engaged in the acquisition and resolution of stressed assets primarily sourced from banks and financial institutions. The company works to recover value from distressed loans through strategies including restructuring, enforcement of security interests, settlement and collection.
The company was incorporated in February 2002 and received its Reserve Bank of India registration to commence securitisation and asset reconstruction activities on August 29, 2003. It is recognised as the first asset reconstruction company incorporated in India and completed its first acquisition of stressed assets in December 2003.
ARCIL operates across corporate loans, SME loans and other loans including retail loans. Its business model involves acquiring stressed financial assets from lenders and implementing resolution strategies intended to maximise recoveries and optimise the value of those assets.
As of March 31, 2025, the company operated through 13 offices across 12 states and employed 193 personnel. It also worked with more than 201 registered valuers, 163 collection agents and over 950 empanelled lawyers.
The company reported Assets Under Management of approximately ₹16,852.57 crore as of March 31, 2025 and was among the leading asset reconstruction companies in India by AUM. Its operations cover multiple stressed-asset segments, allowing it to diversify its recovery activities across corporate, SME and retail portfolios.
ARCIL's business benefits from its long operating history, relationships with banks and financial institutions, a nationwide operating network and experience in handling complex stressed assets. The company also uses technology and data analytics to support asset acquisition, valuation and recovery processes.
Strengths
- First asset reconstruction company incorporated in India.
- RBI registration received in August 2003 to undertake securitisation and asset reconstruction activities.
- More than two decades of operating experience in stressed-asset resolution.
- Strong presence across corporate, SME and retail loan segments.
- Assets Under Management of approximately ₹16,852.57 crore as of March 31, 2025.
- Operations through 13 offices across 12 states.
- Network of registered valuers, collection agents and empanelled lawyers supporting recovery activities.
- Strong relationships with banks and financial institutions.
- Experience in restructuring, enforcement, settlement and collection-based recovery strategies.
- Technology and data analytics capabilities supporting acquisition and resolution decisions.
- Strong profitability, with FY2026 PAT of ₹407.84 crore.
- FY2026 total income of ₹785.08 crore, representing substantial growth over FY2025.
- Net worth of ₹3,079.39 crore as of March 31, 2026.
- Established institutional promoters including Avenue India Resurgence Pte. Ltd. and State Bank of India.
Risks to Consider
- The business depends on successful acquisition and resolution of stressed financial assets.
- Recoveries can be affected by legal proceedings, borrower disputes, asset valuations and the time required to resolve cases.
- The company's profitability can vary depending on the timing and outcome of asset resolutions.
- Regulatory changes affecting asset reconstruction companies may influence business operations.
- The company operates in a competitive financial-services environment with other asset reconstruction companies and stressed-asset investors.
- Rising borrowings can increase financial and interest-rate risks. Total borrowings increased substantially to ₹1,205.50 crore in FY2026 from ₹305.93 crore in FY2025.
- A significant part of the business involves legal, regulatory and enforcement processes that may take considerable time.
- Changes in interest rates, credit conditions and the broader banking environment can influence the supply and pricing of stressed assets.
- Recovery performance may be affected by changes in collateral values and economic conditions.
- The company is exposed to operational, technology, information-security and data-management risks.
- The business requires specialised personnel with expertise in finance, law, recovery and asset management.
- The IPO is entirely an Offer for Sale, meaning the company will not receive any proceeds from the issue.
- The IPO proceeds will accrue to the selling shareholders, including promoter and other selling shareholders, rather than being available for business expansion or debt reduction.
Asset Reconstruction Co.(India) Financials (₹ Cr)
Asset Reconstruction Company (India) reported steady growth in total income and profitability during FY2024 to FY2026. Total income increased from ₹574.11 crore in FY2024 to ₹785.08 crore in FY2026, while PAT increased from ₹305.34 crore to ₹407.84 crore. Total assets and net worth also increased during the period.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 574.11 | 305.34 | 2,795.34 | 2,462.51 |
| FY2025 | 623.40 | 355.32 | 3,263.82 | 2,767.80 |
| FY2026 | 785.08 | 407.84 | 4,460.85 | 3,079.39 |
KPIs & Valuation
At the upper issue price of ₹139, Asset Reconstruction Company (India) reported FY2026 EPS of ₹12.55, implying a pre-IPO and post-IPO P/E of approximately 11.08x. The issue is entirely an OFS, so there is no fresh equity dilution and the EPS remains unchanged after the IPO. FY2026 RoNW was 13.95%, NAV was ₹94.78 and debt-to-equity was 0.39x.
Objects of the Issue
The IPO is entirely an Offer for Sale. Accordingly, the company will not receive any proceeds from the issue. The primary objective of the Offer is to achieve the benefits of listing the equity shares on the stock exchanges and provide liquidity to the selling shareholders.
- The objects of the Offer are:
- Achieving the benefits of listing the equity shares on the BSE and NSE.
- Enhancing the company's visibility and brand recognition.
- Providing a public market for the equity shares of the company.
- Providing liquidity to existing shareholders through the listing.
- The company will not receive any proceeds from the Offer for Sale.
Promoters, Lead Managers & Registrar
Asset Reconstruction Company (India) is promoted by Avenue India Resurgence Pte. Ltd. and State Bank of India. IIFL Capital Services Limited, IDBI Capital Markets & Securities Limited and JM Financial Limited are the Book Running Lead Managers. MUFG Intime India Private Limited is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | MUFG Intime India Private Limited |
|---|---|
| Phone | +91 22 4918 6270 |
| ipo.helpdesk@linkintime.co.in | |
| Website | https://in.mpms.mufg.com/ |
Asset Reconstruction Co.(India) IPO Review
Asset Reconstruction Company (India) has a differentiated business model focused on acquiring and resolving stressed financial assets from banks and other financial institutions. Its status as one of India's early asset reconstruction companies gives it a long operating track record in a specialised segment.
The company reported total income of ₹574.11 crore in FY2024, ₹623.40 crore in FY2025 and ₹785.08 crore in FY2026. PAT increased from ₹305.34 crore in FY2024 to ₹355.32 crore in FY2025 and ₹407.84 crore in FY2026.
Total assets increased from ₹2,795.34 crore in FY2024 to ₹3,263.82 crore in FY2025 and ₹4,460.85 crore in FY2026. Net worth increased from ₹2,462.51 crore in FY2024 to ₹2,767.80 crore in FY2025 and ₹3,079.39 crore in FY2026.
The company has maintained strong profitability, with FY2026 EBITDA of ₹588.93 crore and PAT of ₹407.84 crore. Its nationwide operating network and relationships with lenders provide a platform for sourcing and resolving stressed assets.
ARCIL's AUM was approximately ₹16,852.57 crore as of March 31, 2025. The company operates across corporate, SME and retail segments, reducing reliance on a single stressed-asset category.
At the upper price band of ₹139, FY2026 EPS of ₹12.55 implies a P/E ratio of approximately 11.08x. Since the IPO is entirely an OFS, there is no fresh equity dilution and the post-IPO EPS remains approximately ₹12.55.
The company's FY2026 RoNW was approximately 13.95%, while NAV stood at approximately ₹94.78 per share. Debt-to-equity was approximately 0.39x. The increase in borrowings during FY2026 should nevertheless be monitored by investors.
One important consideration is that the IPO does not raise fresh capital for ARCIL. The entire ₹732.97 crore issue represents shares sold by existing shareholders. Therefore, investors are primarily evaluating the company's existing business, profitability, asset-resolution capabilities, balance sheet and the valuation offered by the selling shareholders.
Overall, Asset Reconstruction Company (India) offers exposure to a specialised stressed-asset resolution business with a long operating history, institutional ownership, sizeable AUM and strong profitability. Investors should also consider regulatory risks, recovery timelines, asset-quality risks, borrowing growth, competitive pressures and the fact that the issue is entirely an OFS before evaluating the IPO.
How to Apply
Asset Reconstruction Company (India) IPO applications can be made through the applicable ASBA and UPI-supported IPO application process. Individual Investors can apply for a minimum of 1 lot, or 107 shares, at the upper price band of ₹139, requiring ₹14,873.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Asset Reconstruction Company (India) IPO.
- Enter the required number of lots.
- Enter the bid price or select the Cut-off option where permitted.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI application after receiving the mandate request.
- Approve the mandate using your UPI PIN.
- The application amount will remain blocked in your bank account until the allotment process is completed.
Prospectus & Documents
Investors can refer to Asset Reconstruction Company (India) Limited's official disclosures and IPO documents for information relating to the Offer, business operations, financial statements, risk factors, selling shareholders and statutory disclosures. The company's Red Herring Prospectus was filed with SEBI on September 2, 2026.
Last updated Sep 3, 2026.