Asset Reconstruction Company (India) Limited has raised ₹732.9 crore from an initial public offering comprising an offer for sale by selling shareholders, Avenue India Resurgence, State Bank of India, Lathe Investments and Federal Bank.

Trilegal advised ARCIL on this IPO.

The transaction team included Bhakta Patnaik (Partner), Albin Thomas (Partner), Somya Jena (Senior Associate), Associates Akanksha Goel, Tushar Chitlangia and Adhish Mohanty.

Trilegal also advised State Bank of India in connection with its participation as a selling shareholder in the IPO.

The transaction team consisted of Albin Thomas, Arsh Sinha (Senior Associate) and Adhish Mohanty (Associate).

Cyril Amarchand Mangaldas advised the book running lead managers on this IPO.

The transaction was led by Ravi Dubey (Partner, Regional Co-Head - Capital Markets - West), with support from Urmil Shah (Senior Associate), Associates Zeb Burk, Akshita Dhawan, Gaurav Lalwani, Harsha Menon, Alok Antony and Syamantak Sinha.

Hogan Lovells Cadwalader served as the international counsel for the BRLMs.

The transaction was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner), with support from Varun Jetly (Counsel) and Aditya Dsouza (Senior Associate).

ARCIL is engaged in the business of acquiring stressed assets from banks and financial institutions and implementing resolution strategies, including through restructuring, enforcement of rights over underlying securities and settlements, with a focus on maximising recoveries. ARCIL was the first ARC to be set up in India and as of March 31, 2025, is the second-largest asset reconstruction company in India by assets under management.

The transaction represents a landmark milestone for India’s stressed-asset resolution industry, bringing ARCIL’s specialised asset reconstruction business to the public markets for the first time.

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