Asset Reconstruction IPO

The Asset Reconstruction mainboard IPO opens for subscription on 9 Sept 2026 and closes on 11 Sept 2026, offered at a price band of ₹132–139 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹732.97 crore. Retail investors bid in lots of 107 shares, a minimum application of ₹14,873.

Issue structure

The IPO is structured entirely as an offer for sale of ₹732.97 crore. The company receives no fresh capital — the proceeds go to the selling shareholders who are paring their stake.

Financials

In FY2026, Asset Reconstruction reported revenue of ₹785.08 crore and a net profit of ₹407.84 crore. Revenue grew from ₹574.11 crore in FY2024 to ₹785.08 crore in FY2026 (+37.0%). Net worth stood at ₹3,079.39 crore at the end of FY2026. At the upper band, that puts the issue at roughly 11.1× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 11.08× post-issue earnings and 1.7× book value, against a return on net worth of 13.95% and a debt-to-equity ratio of 0.39. These ratios come from the offer document and are for comparison, not a recommendation.

Promoters

The promoters of the company are <p>Avenue India Resurgence Pte.Ltd., State Bank of India</p>. Promoter holding stands at 88.47% before the issue and comes down to 77.45% after listing.

Grey market premium (GMP)

In the unofficial grey market, Asset Reconstruction shares are quoted at a premium of ₹12 implying an expected listing around ₹151, about +8.6% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Asset Reconstruction IPO was subscribed 20.1 times overall. The strongest demand came from qualified institutional buyers (QIB) at 52.65 times, with non-institutional investors (NII) at 15.69× and retail investors at 3.39×.

Listing performance

Asset Reconstruction listed on 17 Sept 2026 at ₹139, a premium of +0.0% over the issue price of ₹139.

What to weigh

When evaluating the Asset Reconstruction IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Asset Reconstruction

Asset Reconstruction is a leading Asset Reconstruction Company (&ldquo;ARC&rdquo;) operating across India, specializing in the acquisition and resolution of stressed financial assets. Its core business involves acquiring non-performing assets (NPAs) from banks and financial institutions and implementing effective resolution strategies through restructuring, enforcement of rights over underlying securities, and settlements. It operates across three business verticals; 1. Corporate Loans 2. SME, and 3. Other loans and retail loans. Key Data Second largest ARC in terms of Assets under Management (AUM) of Rs 152,300.31 million, as of March 31, 2024. Second largest ARC with net worth of Rs 24,625.11 million, as of March 31, 2024. Total AUM reported at Rs 168,525.70 million as of March 31, 2025, includes 75.48% corporate loans, 16.31% retail loans, and 8.22% SME loans. As of March 31, 2025, it has 201 registered values and 163 collection agents. Network of 13 offices across 12 states, 193 personnel. Key Strengths India&rsquo;s First ARC with the second Largest AUM Expertise in Acquiring Stressed Assets with increasing investment in SRs Ability to Implement Resolution Strategies and a Robust Collections Framework Track Record of Consistent Financial and Operational Performance Experienced Board of Directors, Management Team and Marquee Investors