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Business Business: Asset Reconstruction Company (India) Limited (ARCIL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), a step towards its initial public offering (IPO).
The IPO will be a pure offer for sale (OFS) of 10.5 crore equity shares with a face value of Rs 10 per share. The selling shareholders include: Avenue India Resurgence Private Limited, which is offering 6.87 crore shares. State Bank of India (SBI) is offering 1.94 crore shares. Lathe Investment Private Limited, which is offering 1.62 crore shares and Federal Bank, which is offering 10.35 lakh shares.

Founded in 2002, ARCIL was India’s first asset reconstruction company and is currently one of the largest private ARCs. As per recent data, it has assets under management (AUM) of Rs 15,230 crore and net worth of Rs 2,462 crore, making it the second largest by both parameters in the private ARC sector.
ARCIL offers corporate loans, SME and other loans, and retail loans, and earns revenue from management fees, recovery fees, investments and write-backs.
The company’s main sponsors are Avenue India Resurgence (a subsidiary of Avenue Capital Group) and SBI. It is led by CEO Pallav Mohapatra and a senior leadership team experienced in banking and asset recovery.
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