ARCIL IPO debuts with ₹12 gray market premium today
ARCIL (Asset Reconstruction Company of India Ltd.) hits the stock market today, and there's already a lot of excitement: its shares are trading at a ₹12 premium in the gray market, about 9% higher than the top IPO price.
The IPO wrapped up on September 11 and was oversubscribed 20.10 times, so clearly, investors were keen.
ARCIL's asset reconstruction model, ₹733cr IPO
ARCIL issue size was ₹733 crore through this IPO, with big names like SBI among the sellers.
Shares were priced between ₹132-139 each.
ARCIL is all about buying and managing bad loans from banks and NBFCs (think of them as financial problem-solvers for struggling loans).
A significant portion of their revenue comes from trust management fees and returns on investments in security receipts (SRs), and if all goes well, they're looking at a market value of around ₹4,516 crore right out of the gate.