India ARCIL IPO Oversubscribed Nearly Eleven Times
India Asset Reconstruction Company saw its initial public offering oversubscribed by 10.67 times driven by strong institutional demand. The share sale is set to make ARCIL the country's first listed asset reconstruction firm when it debuts next week.
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India's Asset Reconstruction Company raised 7.33 billion rupees ($77.58M) after its IPO was oversubscribed 10.67 times by Friday afternoon. The offering marks India's first listed asset reconstruction company upon its September 17 market debut. Institutional demand drove the final-day subscription rate well past initial targets.
