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    Asset Reconstruction IPO

    Updated 15 Sept 2026, 8:00 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,873

    1 lot · 107 shares at the upper price band

    Price band

    ₹139

    Latest GMP

    ₹17

    +12.2% of the ₹139 upper band

    Est. listing price

    ₹156

    Issue size

    ₹732.97 Cr

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    15 Sept 2026, 8:00 pm₹17₹156
    15 Sept 2026, 2:12 pm₹16₹156
    15 Sept 2026, 2:10 pm₹17₹156
    15 Sept 2026, 12:09 am₹16₹154
    15 Sept 2026, 12:08 am₹15₹154
    14 Sept 2026, 2:27 pm₹16₹154
    14 Sept 2026, 2:25 pm₹15₹154
    12 Sept 2026, 9:50 pm₹14₹153
    12 Sept 2026, 9:49 pm₹14₹153
    12 Sept 2026, 5:41 pm₹14₹153
    12 Sept 2026, 5:40 pm₹14₹153
    12 Sept 2026, 1:26 pm₹14₹153
    12 Sept 2026, 1:25 pm₹14₹153
    11 Sept 2026, 10:33 pm₹14₹153
    11 Sept 2026, 10:31 pm₹14₹153
    11 Sept 2026, 6:20 pm₹14₹153
    11 Sept 2026, 6:19 pm₹14₹153
    11 Sept 2026, 1:35 pm₹14₹153
    11 Sept 2026, 1:33 pm₹14₹153
    11 Sept 2026, 12:30 pm₹14₹153
    11 Sept 2026, 12:25 pm₹14₹153
    11 Sept 2026, 12:20 pm₹14₹153
    11 Sept 2026, 11:58 am₹14₹153
    10 Sept 2026, 11:47 pm₹19₹163
    10 Sept 2026, 11:07 pm₹19₹163
    10 Sept 2026, 11:00 pm₹24₹163
    10 Sept 2026, 10:30 pm₹19₹163
    10 Sept 2026, 10:29 pm₹24₹163
    10 Sept 2026, 6:26 pm₹19₹163
    10 Sept 2026, 6:25 pm₹24₹163
    10 Sept 2026, 4:50 pm₹19₹163
    10 Sept 2026, 1:38 pm₹24₹163
    10 Sept 2026, 11:43 am₹24₹163
    10 Sept 2026, 11:40 am₹24₹163
    10 Sept 2026, 11:39 am₹24₹163
    9 Sept 2026, 10:39 pm₹27₹166

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹139
    Issue size
    ₹732.97 Cr
    Lot size
    107
    Opens
    9 Sept 2026
    Closes
    11 Sept 2026
    Allotment
    15 Sept 2026
    Listing
    17 Sept 2026
    Est. listing price
    ₹156
    Listing price
    Awaited
    Listing gain
    Awaited
    Registrar
    MUFG Intime India Pvt.Ltd.
    Minimum investment
    ₹14,873 (1 lot · 107 shares)
    Face value
    ₹10 per share
    Issue type
    Bookbuilding IPO
    Sale type
    OFS only
    Offer for sale
    ₹733 Cr
    Listing at
    BSE, NSE
    Refunds
    16 Sept 2026
    Shares credited
    16 Sept 2026
    Promoter holding
    88.47% before · 77.45% after
    Lead managers
    IIFL Capital Services Ltd., IDBI Capital Markets & Securities Ltd., JM Financial Ltd.

    Offer documents & links

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 11 Sept 2026, 6:54 pm.

    Total subscription

    20.10x

    Qualified Institutional52.65×
    Non Institutional15.69×
    Retail Individual3.39×

    Full issue details

    Details as published for this issue, read 15 Sept 2026, 2:28 pm. Verify against the RHP before applying.

    IPO Details

    IPO Date9 to 11 Sep, 2026
    Listing DateThu, Sep 17, 2026 T
    Face Value₹ 10 per share
    Price Band₹132 to ₹139
    Issue Price₹139 per share
    Lot Size107 Shares
    Sale TypeOFS only
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size5,27,31,946 shares (agg. up to ₹ 733 Cr)
    Offer for Sale5,27,31,946 shares of ₹ 10 (agg. up to ₹ 733 Cr)
    Share Holding Pre Issue32,48,97,140 shares
    Share Holding Post Issue32,48,97,140 shares

    IPO Timetable (Tentative)

    IPO Open
    Wed, Sep 9, 2026
    IPO Close
    Fri, Sep 11, 2026
    Allotment
    Tue, Sep 15, 2026
    Refund
    Wed, Sep 16, 2026
    Credit of Shares
    Wed, Sep 16, 2026
    Listing
    Thu, Sep 17, 2026

    Issue Reservation

    • QIB50.00%
    • NII (HNI)15.00%
    • Retail35.00%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Total IssueMax Allottees
    QIB2,63,65,97250.00%NA
    - Anchor Investor1,58,19,58330.00%NA
    - QIB (Ex. Anchor)1,05,46,38920.00%NA
    NII (HNI)79,09,79215.00%NA
    - bNII > ₹10L52,73,19510.00%3,520
    - sNII < ₹10L26,36,5975.00%1,760
    Retail1,84,56,18235.00%1,72,487
    Total5,27,31,946100.00%—

    Asset Reconstruction IPO comprises a total issue size of 5,27,31,946 shares. Out of which, 2,63,65,972 (50.00%) are allocated to QIB , 79,09,792 (15.00%) allocated to NII 1,84,56,182 (35.00%) allocated to RII .

    IPO Lot Size

    Retail (Min)₹14,873
    Retail (Max)₹1,93,349
    S-HNI (Min)₹2,08,222
    S-HNI (Max)₹9,96,491
    B-HNI (Min)₹10,11,364
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Retail (Min)1107₹14,873
    Retail (Max)131391₹1,93,349
    S-HNI (Min)141498₹2,08,222
    S-HNI (Max)677169₹9,96,491
    B-HNI (Min)687276₹10,11,364

    Investors can bid for a minimum of 107 shares and in multiples thereof.

    IPO Subscription Details

    IPO Anchor Investors

    Bid DateTue, Sep 8, 2026
    Shares Offered1,58,19,583
    Anchor Portion (₹ Cr.)219.89
    Anchor lock-in period end date for 50% shares (30 Days)Thu, Oct 15, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Mon, Dec 14, 2026

    Asset Reconstruction IPO raises ₹ 219.89 crore from anchor investors . Asset Reconstruction IPO Anchor bid date is September 8, 2026 .

    📝 Anchor Investors Letter (PDF)

    IPO Anchor Investors List

    About Asset Reconstruction Co.(India) Ltd.

    Incorporated in February 2002, Asset Reconstruction Company (India) Limited is an asset reconstruction company (ARC) engaged in acquiring stressed assets from banks and financial institutions and implementing resolution strategies to maximize recoveries and optimize the value of such assets. The Company received its certificate of registration from the Reserve Bank of India (RBI) to commence securitisation and asset reconstruction operations in August 2003 and is recognised as the first ARC incorporated in India.

    The Company operates across three key business verticals-Corporate Loans, SME and Other Loans, and Retail Loans. It acquires single-credit and portfolio-based stressed secured and unsecured assets and deploys various resolution, restructuring, enforcement, settlement and collection strategies based on the nature of the underlying assets. Its operations generate revenue through fee income and investment income.

    The Company has established relationships with a wide range of banks, financial institutions, NBFCs and housing finance companies, supporting its stressed asset acquisition business. It has also focused on expanding its presence in the retail loan segment and uses legal mechanisms, collection infrastructure and data analytics to support asset resolution and recovery.

    As of March 31, 2026, the Company operated through 13 offices across 12 states, including Delhi, and had 206 permanent employees. Its operations are supported by registered valuers, collection agents and empanelled lawyers, providing capabilities across acquisition, valuation, resolution and collections.

    Competitive Strengths

    Established nationwide operational network.

    Growing focus on the retail stressed assets segment.

    Strong relationships with banks and financial institutions.

    Track record of consistent financial and operational performance.

    India's first ARC with one of the largest assets under management.

    Expertise in acquiring stressed assets with increasing investment in security receipts.

    Ability to implement diverse resolution strategies and a robust collections framework.

    Company Financials (Restated Standalone)

    Total Income

    31 Mar 2024574.11
    31 Mar 2025623.40
    31 Mar 2026785.08

    Profit After Tax

    31 Mar 2024305.34
    31 Mar 2025355.32
    31 Mar 2026407.84

    EBITDA

    31 Mar 2024416.36
    31 Mar 2025491.88
    31 Mar 2026588.93

    NET Worth

    31 Mar 20242,462.51
    31 Mar 20252,767.80
    31 Mar 20263,079.39
    Company Financials (Restated Standalone): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets4,460.853,263.822,795.34
    Total Income785.08623.40574.11
    Profit After Tax407.84355.32305.34
    EBITDA588.93491.88416.36
    NET Worth3,079.392,767.802,462.51
    Reserves and Surplus2,751.182,439.192,135.20
    Total Borrowing1,205.50305.93149.95
    Amount in ₹ Crore

    Asset Reconstruction Co.(India) Ltd.'s revenue increased by 26% and profit after tax (PAT) rose by 15% between the financial year ending with March 31, 2026 and March 31, 2025.

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    IPO Objects of the Issue

    The Asset Reconstruction Co.(India) Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders.

    Key Performance Indicator (KPI)

    RoNW

    Mar 31, 202513.59%
    Mar 31, 202613.95%

    PAT Margin

    Mar 31, 202557.00%
    Mar 31, 202651.95%

    EBITDA Margin

    Mar 31, 202582.47%
    Mar 31, 202678.21%
    Key Performance Indicator (KPI): The percentage ratios only; the table's absolute figures stay in the table. Figures as published in the table below.
    KPIMar 31, 2026Mar 31, 2025
    Debt/Equity0.390.11
    RoNW13.95%13.59%
    PAT Margin51.95%57.00%
    EBITDA Margin78.21%82.47%
    NAV94.7881.97
    Price to Book Value—1.70

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)12.5512.55
    P/E (x)11.0811.08
    Market Cap at Offer Price₹4,516.07 Cr.₹4,516.07 Cr

    Disclaimer

    The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.

    The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

    Shareholding Structure

    Pre IPO

    • Promoter and Promoter Group88.47%
    • Public11.53%

    Post IPO

    • Promoter and Promoter Group77.45%
    • Public22.55%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group88.47%77.45%
    Public11.53%22.55%
    Total100%100%

    Company Promoters: Avenue India Resurgence Pte.Ltd. and State Bank of India.

    Offer For Sale - Selling Shareholders

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    Avenue India Resurgence Pte.Ltd.Promoter2,48,23,910345.05
    State Bank of IndiaPromoter1,09,63,062152.39
    Lathe Investment Pte.Ltd.Corporate1,62,44,858225.80
    The Federal Bank Ltd.Corporate7,00,1169.73
    Total—5,27,31,946732.97

    Asset Reconstruction IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers7030
    Members1000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)52.651,05,46,39055,52,44,079
    NII15.6979,09,79212,40,96,460
    bNII (> ₹10L)16.7452,73,1958,82,95,972
    sNII (< ₹10L)13.5826,36,5973,58,00,488
    Retail3.391,84,56,1816,26,34,055
    Total20.103,69,12,36374,19,74,594

    The Asset Reconstruction IPO is subscribed 20.10 times on September 11, 2026 6:54:54 PM (Day 3). The public issue subscribed 3.39 times in the retail category, 52.65 times in the QIB category, and 15.69 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 5,70,839

    Company Financials (Restated Consolidated)

    Total Income

    31 Mar 2024609.49
    31 Mar 2025607.84
    31 Mar 2026749.91

    Profit After Tax

    31 Mar 2024310.88
    31 Mar 2025309.24
    31 Mar 2026322.69

    EBITDA

    31 Mar 2024443.62
    31 Mar 2025445.80
    31 Mar 2026532.78

    NET Worth

    31 Mar 20242,426.51
    31 Mar 20252,663.14
    31 Mar 20262,955.21
    Company Financials (Restated Consolidated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets5,726.404,395.983,656.69
    Total Income749.91607.84609.49
    Profit After Tax322.69309.24310.88
    EBITDA532.78445.80443.62
    NET Worth2,955.212,663.142,426.51
    Reserves and Surplus3,456.313,093.112,751.24
    Total Borrowing1,205.50305.93149.95
    Amount in ₹ Crore

    IPO Expenses

    #Issue ExpensesEst Amt (₹ Cr.)
    1BRLM’s fees including underwriting commission, brokerage and selling commission, as applicable19.43
    2Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs2.11
    3Fees payable to Registrar to the Offer0.07
    4Fees payable to legal counsels, statutory auditors$ , independent chartered accountants@, practicing company secretary@, industry service provider^ and others to the Offer14.74
    5Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses5.50
    6Printing and stationery0.85
    7Advertising and marketing expenses8.82
    8Miscellaneous2.53
    Total54.04

    IPO Registrar

    MUFG Intime India Pvt.Ltd.

    022-49186000

    arcil@in.mpms.mufg.com

    IPO Lead Manager(s)

    IIFL Capital Services Ltd.

    IDBI Capital Markets & Securities Ltd.

    JM Financial Ltd.

    Contact Details

    Asset Reconstruction Co.(India) Ltd. Address

    The Ruby, 10th Floor

    29 Senapati Bapat Marg,

    Dadar (West)

    Mumbai, Maharashtra , 400028

    +91 22-66581300

    cs@arcil.co.in

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