Shares of Asset Reconstruction Company (India), the country's first asset reconstruction firm to go public, rose as much as 1.8% in their trading debut on Thursday, after opening flat to their IPO price, following its Rs 7.33 billion IPO ($76.48 million).
The stock was trading at Rs 140.23 as of 10:26 am IST, after opening at its issue price of Rs 139 on the National Stock Exchange of India, valuing the company at Rs 45.56 billion.
ARCIL's IPO was subscribed 20.10 times, led by qualified institutional buyers who bid for 52.65 times the shares reserved for them.
Non-institutional investors subscribed 15.69 times and retail investors bid for 3.39 times their allotted portion.
The issue was entirely an offer for sale, with key stakeholders Avenue India Resurgence and State Bank of India offloading 24.82 million and 10.96 million shares, respectively.
The company raised Rs 2.2 billion from anchor investors ahead of the public issue, including Goldman Sachs India Asset Management, WhiteOak Capital and Bandhan Mutual Fund.
ARCIL, founded in 2002, acquires non-performing loans from lenders and recovers them through restructuring and settlements. Its assets under management stood at Rs 201.5 billion rupees as of March 31, 2026.