Kanohar Electricals IPO to open on Sep 8; price band fixed at ₹601-632

Arcil, an asset reconstruction company based in India, is set to begin its initial public offering (IPO) on September 9, 2026, with the bidding process concluding on September 11. Investor bidding opens on September 8. The company has established a price range of ₹132 to ₹139 per share, with each share valued at ₹10. To participate, investors must commit to purchasing a minimum of 107 shares in multiples of that figure.

The IPO is structured as an offer for sale (OFS) and involves up to 527,31,946 shares being sold off by existing shareholders. Promoter selling shareholders, Avenue India Resurgence Pte. Ltd. and State Bank of India, intend to release up to 2,48,23,910 and 1,09,63,062 shares, respectively. Lathe Investment Pte. Ltd. and The Federal Bank Limited are also selling their shares, with 1,62,44,858 and 7,00,116 shares set for release, respectively.

Since the issue is an OFS, no new capital will enter the company during the IPO. The offer is managed through a book-building process, with up to 50% of the shares reserved for qualified institutional buyers (QIBs), of which 60% is available to anchor investors. Non-institutional investors will receive at least 15% of the offering, while retail investors are guaranteed a minimum of 35%.

Arcil's shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). The issue is overseen by book running lead managers, IIFL Capital Services Limited, IDBI Capital Markets & Securities Limited, and JM Financial Limited. All non-anchor investors are mandated to utilize the ASBA mechanism for bidding. Comments regarding the IPO must be submitted in English, as full sentences, and must adhere to the company's community guidelines.