India's Asset Reconstruction Company edges up after flat debut (updated)
UPDATE 1-India's Asset Reconstruction Company edges up after flat debut Adds details and background throughout
Sept 17 (Reuters) - Shares of Asset Reconstruction Company (India) ASSR.NS, the country's first asset reconstruction firm to go public, rose as much as 1.8% in their trading debut on Thursday, after opening flat to their IPO price, following its 7.33 billion-rupee IPO.($76.48 million)
Here are some key details:
The stock was trading at 140.23 rupees as of 10:26 am IST, after opening at its issue price of 139 rupees on the National Stock Exchange of India, valuing the company at 45.56 billion rupees.
ARCIL's IPO was subscribed 20.10 times, led by qualified institutional buyers who bid for 52.65 times the shares reserved for them.
Non-institutional investors subscribed 15.69 times and retail investors bid for 3.39 times their allotted portion.
The issue was entirely an offer for sale, with key stakeholders Avenue India Resurgence and State Bank of India SBI.NS offloading 24.82 million and 10.96 million shares, respectively.
The company raised 2.2 billion rupees from anchor investors ahead of the public issue, including Goldman Sachs India Asset Management, WhiteOak Capital and Bandhan Mutual Fund.
ARCIL, founded in 2002, acquires non-performing loans from lenders and recovers them through restructuring and settlements. Its assets under management stood at 201.5 billion rupees as of March 31, 2026.
($1 = 95.8375 Indian rupees)
(Reporting by Payel Das; Editing by Nivedita Bhattacharjee)
((Payel.Das@thomsonreuters.com;))
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