Asset Reconstruction Company (India)
India's second-largest asset reconstruction company, buying bad loans from banks and working to recover them.
Last updated 24 Sept 2026, 11:38 pm IST
- Price band
- ₹132 – ₹139
- Lot size
- 107
- Issue size
- ₹733 Cr (100% OFS, 5.27 Cr shares)
- Opens
- 9 Sept 2026
- Closes
- 11 Sept 2026
- Exchange
- Both
The numbers
- GMP
- ₹10 (~7.2%) (17 Sep, 7:30 AM; was ₹15 (~11%) on 14 Sep)
- Subscription
- 20.10× (final)
- Listing gain
- NSE 0.0% / BSE 0.0% (17 Sep)
- Listing date
- 17 Sept 2026
- Model prediction
- ~flat expected → Neutral. Listed 0.0% NSE / 0.0% BSE (17 Sep), closed day 1 at -1.4%; call held.
The Ticker Tales take
ARCIL is India's first asset reconstruction company — it buys bad loans from banks at a discount and works to recover them. It managed ₹16,852.6 crore of assets in FY25 and, at ₹139 a share, was valued at roughly 14 times FY26 earnings. The catch was that the entire ₹733 crore issue was an offer for sale, so not a rupee reached the company. The book looked thin for two days at 0.87 times covered, and our Neutral call was set on that, before institutions piled in on the final day to close it 20.10 times covered. It listed on 17 September at exactly ₹139 on both exchanges — dead flat. It closed the first day at ₹137.02, down 1.4%. The Neutral call was right, even though we made it before the late surge we thought might overtake us.
More details
- Sector
- Asset reconstruction / distressed debt
- FY25 AUM
- ₹16,852.6 Cr
- Issue type
- 100% Offer for sale (5.27 Cr shares)
- Anil Singhvi - Long-term call
- Not clearly stated
- Anil Singhvi - Listing-gain call
- Not clearly stated
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.