Trilegal Advises ARCIL On INR 7,329 million IPO
Trilegal advised ARCIL on its landmark INR 7,329 million IPO, the world’s first listing of an asset reconstruction company.
The IPO was structured entirely as an Offer for Sale (OFS) by ARCIL’s existing shareholders and comprised an offer by its selling shareholders.
Trilegal advised Asset Reconstruction Company (India) Limited (ARCIL) in connection with its initial public offering (IPO), making ARCIL India’s first listed asset reconstruction company and the world’s first publicly listed pure-play private-sector asset reconstruction company.
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, ARCIL was the second-largest asset reconstruction company in India by assets under management, (Source: CRISIL Report).
The IPO was structured entirely as an Offer for Sale (OFS) by ARCIL’s existing shareholders and comprised an offer by its selling shareholders, Avenue India Resurgence, State Bank of India, Lathe Investments and Federal Bank.
Trilegal also advised State Bank of India in connection with its participation as a selling shareholder in the IPO.
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.
The Trilegal Capital Markets team advising ARCIL was led by Partners: Bhakta Patnaik and Albin Thomas; and supported by Senior Associate: Somya Jena; Associates: Akanksha Goel, Tushar Chitlangia and Adhish Mohanty.
The Trilegal Capital Markets Team advising the State bank of India was led by Partner: Albin Thomas; and supported by Senior Associate: Arsh Sinha; Associate: Adhish Mohanty.