ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED IPO — Subscription & GMP
- Price band
- ₹132 – ₹139
- Lot size
- 107
- Issue size
- ₹732.97 Cr
- Bidding
- 09 Sept 2026 → 11 Sept 2026
- Allotment
- —
- Listing
- 17 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 10.1 percentage points against the buyer — it implied +10.07% and the issue listed 0.00%. Counted in our running GMP accuracy record.
Schedule
- 09 Sept 2026IPO open date
- 11 Sept 2026IPO close date
- 14 Sept 2026Allotment date†
- 14 Sept 2026Funds unblock or debit†
- 17 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsAsset Reconstruction Company (India) Limited (Arcil) - Business Model Summary
Asset Reconstruction Company (India) Limited operates as a specialized financial institution focused on acquiring, managing, and resolving non-performing assets (NPAs) and stressed financial portfolios from banks and financial institutions.
Core Segments & Operating Model
1. Stressed Asset Acquisition: - Target Segments: Acquires secured and unsecured distressed assets spanning corporate loans, small and medium-sized enterprises (SME), mid-market, and retail segments. - Mechanism: Purchases bad loans and non-performing portfolios from commercial banks and financial institutions at a discounted valuation.
2. Resolution & Recovery Strategies: - Deploys multi-pronged turnaround mechanisms to maximize value recovery, including debt restructuring, rescheduling, borrower debt settlements, enforcement under the SARFAESI Act, and formal corporate insolvency resolutions via the National Company Law Tribunal (NCLT / IBC).
Revenue Streams
- Management & Trusteeship Fees: Earns regular periodic fees for managing the acquired asset trusts.
- Portfolio Recovery & Incentive Fees: Receives a percentage of realized value or performance-linked fees upon successful resolution and recovery of distressed assets.
- Investment Income: Generates returns through yields and capital appreciation on investments made in Security Receipts (SRs) issued against the acquired asset pools.
Official source: Basis of Issue Price / ratios filing (NSE) — carries P/E, RoNW and EPS pre and post issue as filed.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 799 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 1.05 Cr | 29.39 Cr | 27.87× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 19.58 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 7.69 Cr | — |
| 1(c)Mutual funds | — | 0 | — |
| 1(d)Others | — | 2.12 Cr | — |
| 2Non Institutional Investors | 79.10 L | 11.24 Cr | 14.21× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 52.73 L | 8.25 Cr | 15.64× |
| 2.1(a)Corporates | — | 7.36 L | — |
| 2.1(b)Individuals(Other than RIIs) | — | 7.88 Cr | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 26.37 L | 2.99 Cr | 11.35× |
| 3Retail Individual Investors(RIIs) | 1.85 Cr | 4.22 Cr | 2.29× |
| 3(a)Cut Off | — | 3.53 Cr | — |
| 3(b)Price bids | — | 68.80 L | — |
| Total | 3.69 Cr | 44.86 Cr | 12.15× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹132 → ₹139 · peak 74.21 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
Anchor allocation report (NSE)
This issue’s anchor letter was filed as a scanned image with no text layer, so the allocation table cannot be read without OCR. We link the filing rather than publish figures we cannot verify.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹132 – ₹139
- Lot size
- 107 shares
- Min. bid quantity
- 107
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 3.69 Cr
- Issue size
- ₹732.97 Cr
- Offer structure
- 100% offer for sale — no proceeds to the company
- Max bid · QIB
- 3.69 Cr
- Max bid · NII
- 2.64 Cr
Timeline & process
- Bidding opens
- 09 Sept 2026
- Bidding closes
- 11 Sept 2026
- Bidding hours
- 10.00 a.m. to 5.00 p.m.
- UPI mandate cutoff
- 11-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to participate in IPOs by successfully accepting the mandate.
- Allotment
- —
- Listing
- 17 Sept 2026
Intermediaries
- Registrar
- MUFG Intime India Private Limited
- Sponsor bank
- HDFC BANK
- Lead managers
- IIFL Capital Services Limited, IDBI Capital Markets & Securities Limited, JM Financial Limited, IDBI Capital Markets & Securities Limited, JM Financial Limited