Arcil Sets The Stage For ₹733 Crore IPO, Raises ₹220 Crore From Anchor Investors Ahead Of Subscription

Asset Reconstruction Company (India) Ltd, commonly known as Arcil, has successfully raised ₹220 crore from anchor investors, marking the close of its three-day initial share-sale. The anchor investors include Goldman Sachs India Asset Management Company, WhiteOak Capital, Bandhan Mutual Fund, and various other mutual funds and financial institutions.

These investors purchased 81.29 lakh shares at ₹139 per share, which is the upper limit of the IPO price band. Arcil's ₹733 crore Initial Public Offering (IPO) is set to open for public subscription on September 9 and will conclude on September 11, with a price range of ₹132-₹139 per equity share. This IPO is an Offer For Sale (OFS) involving the sale of 5.27 crore equity shares by Arcil's promoters, Avenue India Resurgence Pte Ltd and State Bank of India, along with existing shareholders Lathe Investment Pte Ltd and The Federal Bank Ltd. As the IPO is entirely an OFS, Arcil will not receive any funds from the share sale.

The primary objectives of the listing are to increase Arcil's visibility and brand, provide liquidity to existing shareholders, and establish a public market for the company's equity shares in India. Arcil's shares are expected to start trading on the BSE and NSE on September 17.