Arcil IPO Hits The Street September 9, ₹733-Crore Offer Priced at ₹132-139
New Delhi: Asset Reconstruction Company (India) Ltd , popularly known as Arcil, is preparing to enter the stock market with an initial public offering worth up to Rs 733 crore. The Arcil IPO will open for public subscription on September 9 and close on September 11. The asset reconstruction company has fixed the price band at Rs 132-139 per equity share. Bidding for anchor investors will take…
Arcil, also known as Asset Reconstruction Company (India) Ltd, is gearing up for its initial public offering (IPO) on September 9. The IPO is expected to raise up to Rs 733 crore and will be priced between ₹132 and ₹139 per equity share. Bidding for anchor investors begins on September 8, a day before the public offer opens. This is Arcil's first OFS (Offer for Sale) rather than a fresh share issuance.
Promoters Avenue India Resurgence Pte Ltd, State Bank of India, Lathe Investment Pte Ltd, and The Federal Bank Ltd will be selling their shares through the OFS. As Arcil will not receive any funds from the IPO, the proceeds will go to the selling shareholders. The company aims to use the IPO's listing on September 17 to increase its visibility and provide liquidity to shareholders.
Arcil specializes in acquiring stressed assets from banks and financial institutions, working to resolve them through restructuring, settlements, and enforcing rights over underlying securities.
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