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Asset Reconstruction IPO

₹139.00Issue price

Bidding closed. The basis of allotment is due on 15 September 2026.

Subscription and grey market figures refresh on a 30-minute cycle. Last synced 15 September 2026. They are not a live tick-by-tick feed, so a bidding day can move between refreshes. Confirm current numbers on the exchange websites before you apply.

Issue size
₹732.97 Cr
Lot size
107 shares
Minimum investment
₹14,873.00
Face value
₹10.00
Fresh issue
Not announced
Offer for sale
₹732.97 Cr
Exchanges
NSE and BSE
Bidding dates
9 September 2026 to 11 September 2026

Final subscription

The bidding window has closed. These are the last recorded figures for each category.

Subscription by investor category, bidding day 3
CategoryTimes subscribedRelative to the highest category
QIBQualified institutional buyers52.65x
TotalTotal20.10x
bNIINon-institutional (bids above ₹10 lakh)16.74x
NIINon-institutional investors15.69x
sNIINon-institutional (bids up to ₹10 lakh)13.58x
RetailRetail individual investors3.39x
Total20.10x

Figures from bidding day 3. A multiple of 1.00x means bids exactly covered the shares offered; above that the issue is oversubscribed. Source share counts are not published in this dataset, so only the multiple is shown.

The dates that matter

An Indian IPO runs on a fixed calendar. Bidding stays open for three working days, the allotment is finalised the next working day, and the shares begin trading the day after that.

    Issue dates

  1. Anchor investor biddingCompleted

    8 September 2026

    One day before the public window, for institutional anchors.

  2. Bidding opensCompleted

    9 September 2026

  3. Bidding closesCompleted

    11 September 2026

  4. Basis of allotmentNext

    15 September 2026 in today

  5. Refunds initiated

    16 September 2026

  6. Shares credited to Demat

    16 September 2026

  7. Listing on the exchange

    17 September 2026

Grey market premium

Grey market premium is the price traders quote among themselves for shares that have not listed yet. Below is the full day-by-day record we hold for this issue, not only the latest figure, because the movement across the bidding window says more than any single day does.

12172227328 Sept15 Sept
Grey market premium per share over 8 recorded days. Hover or use the arrow keys to read any day.
Grey market premium history for Asset Reconstruction
DatePremium per share
2026-09-0830
2026-09-0924
2026-09-1014
2026-09-1114.5
2026-09-1214.5
2026-09-1315
2026-09-1416
2026-09-1515
Day by day, 8 records
DatePremium per shareImplied listing priceImplied gain
15 September 2026₹15.00₹154.0010.79%
14 September 2026₹16.00₹155.0011.51%
13 September 2026₹15.00₹154.0010.79%
12 September 2026₹14.50₹153.5010.43%
11 September 2026₹14.50₹153.5010.43%
10 September 2026₹14.00₹153.0010.07%
9 September 2026₹24.00₹163.0017.27%
8 September 2026₹30.00₹169.0021.58%

About Asset Reconstruction

Asset Reconstruction Co.(India) Ltd. is an asset reconstruction company (ARC) that buys stressed loans from banks, financial institutions, NBFCs and housing finance companies, then works to recover money from them. The RBI granted it a certificate of registration in August 2003, making it the first ARC incorporated in India. It runs three business verticals: Corporate Loans, SME and Other Loans, and Retail Loans. It acquires both single-credit and portfolio-based stressed assets, secured and unsecured, and uses restructuring, enforcement of rights over underlying securities, settlements and collections to recover value. Revenue comes from fee income and investment income. As of March 31, 2026, it operated through 13 offices across 12 states, including Delhi, with 206 permanent employees. Registered valuers, collection agents and empanelled lawyers support its acquisition, valuation, resolution and collection work.

Promoters

  • Avenue India Resurgence Pte.Ltd.
  • State Bank of India

Financial highlights

The last three fiscal years as the offer document states them. Reading across a row shows whether the figure has grown, which is why the years run left to right.

Metric (₹ crore)Mar 2024Mar 2025Mar 2026
Assets2,795.343,263.824,460.85
Total Income574.11623.40785.08
Profit After Tax305.34355.32407.84
EBITDA416.36491.88588.93
NET Worth2,462.512,767.803,079.39
Reserves and Surplus2,135.202,439.192,751.18
Total Borrowing149.95305.931,205.50

Figures are in ₹ crore and reproduced from the offer document, covering Mar 2024 to Mar 2026. A dash means the document does not state that figure for that period. A fiscal year ending March is labelled by its closing month, and where the document states a figure on a different basis the label here follows the document rather than normalising it.

Key ratios

Valuation and return ratios calculated from the issuer's financials. These are the figures the issue price is usually judged against, and the offer document carries the working behind each one.

RatioValueWhat it measures
Earnings per share₹12.55Profit after tax divided by the number of shares.
P/E at the cap price11.08xIssue price divided by earnings per share. Lower is cheaper, but only against the same industry.
P/E after the issue11.08xThe same ratio recalculated on the larger post-issue share count.
Price to book1.70xIssue price against net assets per share.
Net asset value per share₹81.97What the company owns, less what it owes, per share.
Return on net worth13.59%The offer document’s own name for return on shareholders’ funds.
Debt to equity0.11xBorrowings against shareholders’ funds. Higher means more leverage.
Profit margin57.00%Profit after tax as a share of income.
Operating margin82.47%Operating profit as a share of income, before interest, tax and depreciation.
Market capitalisation₹4,516.07 CrValue of the company at the issue price.

Ratios are stated as published. A ratio that is absent here was not stated in the document, and is not the same as a ratio of zero.

Who gets what share

SEBI fixes how much of a book-built issue each investor category can be allotted. This is the split for this issue as stated in the offer document.

Reservation by investor category
CategoryShare of issueAmount
Retail individual investors35.00%₹256.54 Cr
Qualified institutional buyers20.00%₹146.59 Cr
Non-institutional (bids above ₹10 lakh)10.00%₹73.30 Cr
Non-institutional (bids up to ₹10 lakh)5.00%₹36.65 Cr

Percentages are reproduced as text from the offer document. A dash means the document does not state an amount for that category. Categories are labelled using the document's own terms, which differ slightly between issues.

Questions people ask

One lot is 107 shares, and the block is calculated at the top of the price band, ₹139.00. That comes to ₹14,873.00 held in your bank account until the allotment is finalised. If you are not allotted, the block is released and the money never leaves your account.

Bidding runs from 9 September 2026 to 11 September 2026. Applications can be revised or withdrawn while bidding is open. Once it closes, the registrar finalises the basis of allotment the next working day and shares are credited the day after.

The last recorded total is 20.10x. That figure is a snapshot refreshed every 30 minutes, so it can lag the exchange during a bidding day. A multiple above 1.00x means bids exceeded the shares offered.

The most recent recorded premium is ₹15.00 per share, against ₹30.00 when recording began on 8 September 2026. The movement across those days says more than either number on its own.

Retail applications run from 1 lot to 13 lots. The retail category caps an application at ₹2,00,000, so the upper limit is whichever comes first: the lot ceiling or the value ceiling.

The registrar for this issue is MUFG Intime India Pvt.Ltd.. Allotment is published on its site, where you enter your PAN or application number. The registrar also handles the refund of blocked funds and the credit of shares to your Demat account.

Sources