ARCIL files IPO draft papers with SEBI

ARCIL, backed by Avenue Capital Group, is planning to file its DRHP with SEBI for an IPO this week. The IPO will be an Offer for sale of up to 10.54 crore shares by existing shareholders and promoters.
ARCIL, incorporated as India’s first asset reconstruction company, acquires and manages distressed debt from banks and financial institutions in 175 cities across India. The company has expanded its business through restructuring, enforcement of rights on underlying securities, and settlements to maximise recovery value after acquiring a majority stake in debt resolution strategies.
The company is backed by global investors like New York-based Avenue Capital, State Bank of India, and Singapore’s sovereign fund GIC. In FY24, the company recorded a standalone profit of Rs 305.34 crore. Currently, the company has assets under management of Rs 15,230 crore and holds the second-largest net worth among private ARCs at Rs 2,462.5 crore.