Asset Reconstruction IPO: The Rs 732.97 crore initial public offering (IPO) of Asset Reconstruction Company (India) Limited will open for subscription on Wednesday, September 9, and remain open until September 11. The IPO is entirely an offer for sale (OFS), with 5.27 crore shares being offered by existing shareholders.
The price band for the IPO has been fixed at Rs 132-139 per share. Retail investors can bid for a minimum of 107 shares, requiring an investment of Rs 14,873 at the upper end of the price band.
Asset Reconstruction IPO Subscription Status
Asset Reconstruction Company (India) Limited IPO total subscription stood at 0.28 times as of 2:45 pm. Among investor categories, NIIs subscribed 0.21 times, while retail investors subscribed 0.41 times. QIBs subscription stood at 0.09 times.
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Asset Reconstruction IPO Issue Details
Asset Reconstruction Company (India) is looking to raise Rs 732.97 crore through the IPO. The issue is entirely an OFS of 5.27 crore shares aggregating to Rs 732.97 crore.
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Since the IPO is entirely an offer for sale, the company will not receive any proceeds from the issue. The proceeds from the OFS will accrue to the selling shareholders.
The IPO is a book-building issue and the shares are proposed to be listed on both the NSE and BSE.
IIFL Capital Services Ltd. is the book-running lead manager to the issue, while MUFG Intime India Pvt. Ltd. is the registrar.
Asset Reconstruction IPO Price Band and Lot Size
The price band for the IPO has been fixed at Rs 132-139 per share. The lot size is 107 shares.
A retail investor can bid for a minimum of one lot, or 107 shares, requiring an investment of Rs 14,873 at the upper price band.
The maximum retail application is 13 lots, or 1,391 shares, requiring an investment of Rs 1,93,349.
For small HNI investors, the minimum application is 14 lots, or 1,498 shares, requiring Rs 2,08,222 at the upper price band. The maximum S-HNI application is 67 lots, or 7,169 shares, requiring Rs 9,96,491.
The minimum application for big HNI investors is 68 lots, or 7,276 shares, requiring Rs 10,11,364.
Asset Reconstruction IPO: About the Company
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 maximise recoveries and optimise the value of such assets.
Incorporated in February 2002, the company received its certificate of registration from the Reserve Bank of India (RBI) in August 2003 to commence securitisation and asset reconstruction operations. It 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 uses resolution, restructuring, enforcement, settlement and collection strategies depending on the nature of the underlying assets.
The company's revenue is generated through fee income and investment income. It has established relationships with banks, financial institutions, non-banking financial companies (NBFCs) and housing finance companies, supporting its stressed asset acquisition business.
The company has also expanded 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, Asset Reconstruction Company (India) 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 across acquisition, valuation, resolution and collections.
Asset Reconstruction IPO Allotment
The Asset Reconstruction IPO allotment is expected to be finalised on Tuesday, September 15, 2026.
Investors whose bids are not accepted are expected to receive refunds on Wednesday, September 16. Shares allotted to successful bidders are also expected to be credited to their demat accounts on the same day.
Asset Reconstruction IPO Listing
Asset Reconstruction Company (India) shares are scheduled to list on the NSE and BSE on Thursday, September 17, 2026, on a tentative basis.
The IPO is a book-building issue.
Asset Reconstruction IPO GMP
In the grey market, Asset Reconstruction IPO shares are commanding a premium of around Rs 30 over the upper end of the IPO price band, according to the latest available market indications, updated on September 9 at 6:02 AM.
At the upper price band of Rs 139, a GMP of Rs 30 would imply an estimated listing price of around Rs 169. This indicates a potential listing gain of approximately 21.58% over the issue price.
However, the grey market premium is an unofficial indicator and can change before listing. It should not be treated as a guarantee of the stock's actual listing price.
Asset Reconstruction IPO Financials
Asset Reconstruction Company (India) reported steady growth in its financial performance in FY26.
The company's total income rose 26% to Rs 785.08 crore in FY26 from Rs 623.40 crore in FY25. Profit after tax (PAT) increased 15% to Rs 407.84 crore from Rs 355.32 crore during the same period.
EBITDA rose to Rs 588.93 crore in FY26 from Rs 491.88 crore in FY25.
The company's total assets stood at Rs 4,460.85 crore as of March 31, 2026, compared with Rs 3,263.82 crore a year earlier. Net worth increased to Rs 3,079.39 crore from Rs 2,767.80 crore during the same period.
Total borrowings, however, increased sharply to Rs 1,205.50 crore in FY26 from Rs 305.93 crore in FY25 and Rs 149.95 crore in FY24.
Asset Reconstruction IPO Issue Reservation
The IPO has reserved not more than 50% of the offer for QIBs, not less than 15% for NIIs and not less than 35% for retail investors.
The category-wise subscription response will be closely watched during the three-day bidding period, particularly the participation from institutional investors.
Asset Reconstruction IPO: Competitive Strengths
Asset Reconstruction Company's key strengths include its established nationwide operational network and its position as one of India's prominent players in the stressed-asset resolution market.
The company has a long operating track record, strong relationships with banks and financial institutions and a growing focus on the retail stressed-assets segment.
Its expertise spans the acquisition, valuation and resolution of stressed assets, while its collection framework and use of legal mechanisms and data analytics support recovery efforts.
The company also has an established operational presence across multiple states and a network of registered valuers, collection agents and empanelled lawyers.
Asset Reconstruction IPO: What Should Investors Watch?
Investors tracking the Asset Reconstruction IPO will primarily watch the subscription response across investor categories, the company's ability to maintain its financial performance and trends in stressed-asset acquisitions and recoveries.
The company's position in the asset reconstruction industry and relationships with banks, NBFCs and other financial institutions provide it with access to stressed assets. Its growing focus on retail loans is another factor that could influence its future business mix.
At the same time, investors will need to monitor the company's borrowing levels, which increased substantially in FY26. The ability to successfully resolve acquired stressed assets and generate recoveries will remain critical to the company's financial performance.
Since the IPO is entirely an OFS, the company itself will not receive funds from the issue. Investors will therefore need to evaluate the business and its growth prospects independently of any fresh-capital infusion from the IPO.
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