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Arcil IPO Opens September 9 at ₹132-139 Price Band
Arcil is a company that helps banks manage loans and other assets that are difficult to recover.
It plans to sell some existing shares to the public through an IPO.
People can apply for the shares from September 9 to September 11.
Each share will cost between ₹132 and ₹139.
The IPO could be worth about ₹733 crore at the highest price.
Arcil itself will not receive this money because existing shareholders are selling their shares.
Retail investors must apply for at least 107 shares, costing ₹14,873 at the highest price.
The shares are expected to start trading on the BSE and NSE on September 17.
Arcil says the listing could improve its visibility and make it easier for shareholders to sell their holdings.
Arcil’s IPO will be open for public subscription from September 9 to September 11.
The price band is ₹132-139 per equity share, valuing the issue at up to about ₹733 crore.
The IPO is entirely an Offer for Sale of 5.27 crore shares, so Arcil will receive no proceeds.
Avenue India Resurgence, State Bank of India, Lathe Investment and The Federal Bank are selling shareholders.
Retail investors can bid for at least 107 shares, while listing is expected on the BSE and NSE on September 17.
- Who
- Asset Reconstruction Company (India) Ltd, known as Arcil, and its selling shareholders.
- What
- An IPO involving an Offer for Sale of 5.27 crore existing equity shares.
- Where
- The shares are scheduled to list on the BSE and NSE; Arcil operates through 13 offices across 12 states in India.
- When
- Anchor bidding is scheduled for September 8, public subscription for September 9-11, allotment around September 15, and listing on September 17.
- Why
- Arcil expects the listing to strengthen its visibility and provide liquidity to shareholders.
Key facts
- Price band
- ₹132-139 per equity share
- Issue size
- About ₹696 crore at the lower band and ₹733 crore at the upper band
- Offer structure
- Entirely an Offer for Sale; no fresh shares are being issued
- Shares offered
- 5.27 crore equity shares
- Retail minimum
- One lot of 107 shares, requiring ₹14,873 at the upper price band
- Investor allocation
- 50% for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors
- Expected listing
- September 17 on the BSE and NSE
Sources
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