New Delhi, Sep 17 (PTI) Shares of Asset Reconstruction Company (India) Ltd, better known as Arcil, closed over 1 per cent lower after a flat listing at par with the issue price of Rs 139 apiece.
The stock opened at Rs 139 per share on both the NSE and BSE.
The shares later climbed 1.87 per cent to Rs 141.60 during the day on the BSE, but failed to carry forward the momentum. The stock finally ended at Rs 137.05, down 1.40 per cent.
Shares of the firm ended at Rs 137.02 on the NSE, down 1.42 per cent from the issue price.
The company’s market valuation stood at Rs 4,452.72 crore.
The Rs 733-crore initial public offering (IPO) of Asset Reconstruction Company (India) Ltd was subscribed 20.10 times on Friday last week.
Arcil had fixed a price band of
Rs 132-139 per share for its IPO, which was entirely an offer-for-sale (OFS). Since there was no fresh issue, Arcil did not receive any proceeds from the offering.
Asset Reconstruction Company (India) Ltd had garnered Rs 220 crore from anchor investors.
Arcil is engaged in acquiring stressed assets from banks and financial institutions, and implementing resolution strategies through restructuring, enforcement of rights over underlying securities and settlement. PTI SUM SHM
