07 Sep 2026
Deal: Trilegal advised ARCIL on its landmark INR 7,329 million IPO, the world’s first listing of an asset reconstruction company
18 Sep 2026
18 Sep 2026
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.
About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. Operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country, with offices across Mumbai, Delhi, Gurugram, Bengaluru, Chennai, Pune, and GIFT City.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Law Firm of the Year at the ET Global Legal Awards 2026, Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, and M&A Firm of the Year by IFLR Asia-Pacific in 2024.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com.
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