Arcil opens ₹733cr offer for sale IPO priced ₹132-₹139
Asset Reconstruction Company (India) Ltd (Arcil) just opened its ₹733 crore IPO for subscription, running from Wednesday to Friday.
Shares are priced between ₹132 and ₹139 each, and the offer is an offer for sale, so current big shareholders like SBI, Avenue India Resurgence, Lathe Investment, and Federal Bank are selling a chunk of their stake.
Arcil lists Sep 17 BSE NSE
The IPO will list on September 17 on both BSE and NSE, giving Arcil more visibility and providing a public market for the company's equity shares in India.
The money raised goes to the selling shareholders since it's an offer for sale.
Arcil works behind the scenes buying stressed loans from banks and trying to fix them up.
Before opening up to everyone else, it already raised ₹220 crore from anchor investors like Goldman Sachs India AMC, Tata Mutual Fund, and Aditya Birla Sun Life MF; over half of that went to six Indian mutual funds across 12 schemes.