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Arcil sets IPO price band at ₹132 to ₹139 per share
The subscription runs from 9 to 11 September, with listing on BSE and NSE scheduled for 17 September after a Tuesday anchor allocation.
Asset Reconstruction Company (India), or Arcil, has set its IPO price band at ₹132 to ₹139 per share, according to LiveMint Markets.
The subscription period is scheduled for 9 September through 11 September, with an anchor investor allocation taking place on 8 September. Basis of allotment is expected to be finalised on 15 September, with refunds initiated on 16 September, and shares credited to investors’ demat accounts on the same day.
Arcil’s IPO will consist entirely of an offer-for-sale of 5.27 crore equity shares, with no fresh issue of shares, meaning the company will not receive proceeds. LiveMint Markets also notes that Avenue India Resurgence, backed by Avenue Capital Group, and the State Bank of India are among the key selling shareholders.
The offer structure reserves up to 50% for qualified institutional buyers, at least 15% for non-institutional investors, and at least 35% for retail investors. Arcil’s largest shareholder, Avenue India Resurgence, holds a 69.73% stake, followed by the State Bank of India with 19.95%.