Gablu shah

Financial Growth • Money Matters

[Aashish Sisodia @Being_sisodiaa]

Day 2 of the ARCIL IPO throws up an interesting contrast across investor categories.

The issue is currently 0.69x subscribed overall.

Retail is already at 1.01x, while the NII category is at 0.73x.

Within NII, the sNII category is at 1.25x, whereas bNII is at 0.47x.

QIB, excluding the anchor portion, is currently at 0.10x.

The important thing to remember is that this is still an ongoing IPO, with bidding open until September 11, so today's subscription numbers are not the final picture.

What makes ARCIL particularly interesting is that this isn't simply another financial-services IPO.

ARCIL is India's first ARC and has been operating since 2002. Over the years, it has acquired around ₹1.60 lakh crore of stressed assets, and its AUM stood at around ₹20,150 crore in FY26.

The business is also seeing a meaningful portfolio shift, with Retail and SME & Other increasing their share of AUM to 31.25% in FY26.

And before the public issue opened, ARCIL's anchor book had already attracted around ₹220 crore from 21 institutional investors at ₹139 per share, including global and domestic names.

So the next couple of days will be interesting not just from a subscription standpoint, but also from a price-discovery standpoint.

This is the first time the public market gets to decide how it wants to value an established ARC franchise.

[Rahul Patel @rahulpatel729]

ARCIL IPO: Day 2 is showing an interesting pattern.

The issue is currently subscribed 0.69x overall, with the Retail category already at 1.01x.

What stands out is that the retail book has crossed full subscription even while QIB participation, excluding anchors, is still at 0.10x.

This is not unusual for an IPO where institutional bidding can be more back-ended, but the retail response does show that the ARC story is finding interest among individual investors.

And there is a larger story here.

ARCIL is not a new-age financial services company trying to build a track record. It has been operating in the asset reconstruction space for over two decades and has acquired around ₹1.60 lakh crore of stressed assets since inception.

FY26 AUM stood at around ₹20,150 crore, while the company is increasingly building its presence across Corporate, SME and Retail stressed assets.

The interesting part of this IPO will ultimately be price discovery.

For the first time, the public market gets an opportunity to put a valuation on an ARC business and its combination of AUM, fee income and recovery potential.

Day 2 numbers are just one part of that story, but the retail response is certainly worth watching.

https://t.co/CdkM3Dy3Tm

[ज्योत्सना सिंह 🇮🇳 @jyotsnassingh]

One of the more interesting aspects of the ARCIL IPO happened even before the issue opened.

ARCIL's anchor book saw around ₹220 crore of institutional participation, with 1.58 crore shares allotted to 21 institutional investors at ₹139 per share, the upper end of the price band.

The participation included names such as Goldman Sachs, BofA Securities, Tata Mutual Fund, Ashoka WhiteOak and several other global and domestic institutions.

Of course, anchor participation should never be treated as an investment recommendation.

But it does add an interesting layer to the IPO story.

Because ARCIL is taking a specialised financial-services business to the public markets for the first time.

The company has over two decades of operating experience, has acquired around ₹1.60 lakh crore of stressed assets, and had ₹20,150 crore of AUM at the end of FY26.

The business is also evolving beyond its traditional corporate stressed-asset exposure, with Retail and SME & Other now accounting for 31.25% of AUM, compared with 21.49% in FY24.

So there are multiple things for the market to assess here: the legacy franchise, AUM growth, fee income, portfolio diversification and recovery potential.

With institutional investors participating at the upper end of the band, the IPO's price discovery is becoming an interesting one to watch.

https://t.co/2X0r7OuQKw

[vipin talwar @vipintalwar]

MPi IPO sees retail portion fully subscribed on Day 2 👀

Retail subscription has now crossed 1.02x, with more than 45,000 applications received across the issue so far.

Interestingly, the HNI categories still have considerable room:
* NII: 0.20x
* sNII: 0.26x
* bNII: 0.16x

With retail already fully subscribed and HNI participation still at relatively early levels, the category-wise numbers set up an interesting final day.

For HNI investors, especially in the bNII category, the current subscription level also means allotment could remain relatively favourable if these levels hold.

Final-day HNI and institutional participation will be the key numbers to track now.

[Ruby. @RubyLaser_]

Interesting subscription trend emerging in the MPi IPO ahead of the final day.

Retail has already reached 1.02x, while NII stands at 0.20x, including 0.26x in sNII and just 0.16x in bNII.

That combination is interesting. Retail demand has already taken the category past full subscription, while the HNI buckets remain relatively under-subscribed at this stage, potentially leaving better allotment visibility for larger applications if the current equation sustains.

The IPO had also raised ₹362.25 crore from anchors, with participation from names including Motilal Oswal, Baroda BNP Paribas, Groww, Alchemy and Mukul Agrawal.

With one day remaining, MPi heads into the final session with retail already covered and plenty of room for HNI and QIB participation to build. 📈

https://t.co/EadgZz2yaE

[FunnyBones @leo_AT1992]

A heartfelt & humble thank you to the wonderful @IndiGo6E crew of Flight 6E 6977 (Jaipur–Goa), today. My diabetic father experienced a brief low-sugar episode onboard.air hostess was incredibly kind, patient and ensuring he felt safe and comfortable.
@IndiGo6E a big thanks !!

[Gablu shah @GabluShah6248]

@IndianIndex Flipkart’s stronger acquisition pace demonstrates substantial progress and increasing marketplace penetration across India

[Gablu shah @GabluShah6248]

@yatinmota Flipkart appears to be building meaningful momentum despite intense competition from Amazon 💙

[Gablu shah @GabluShah6248]

@ashishk53542554 Media coverage देखते समय यह भी check करना चाहिए कि सभी relevant facts और parties को proper context मिला है या नहीं।

[Gablu shah @GabluShah6248]

@aravind You don’t have to agree with the practice of brahmacharya. But you can at least understand that someone following a lifelong religious vow may have personal boundaries around interaction.

[Gablu shah @GabluShah6248]

@tvsmotorcompany Excellent creativity around tyre inspection

[Gablu shah @GabluShah6248]

@tvsmotorcompany The visual makes a lasting impression

[Gablu shah @GabluShah6248]

@tvsmotorcompany Such a captivating concept

[Elon Mast @clumsyninja0905]

@idfcfirstbank Thank you kanika ji for helping me understand how monthly interest works and what’s the timeline.. Good to know the details now.

[Abdullah @abdul_tweets03]

Had a long day of meetings and an evening flight to catch. Used my first wow black credit card from @IDFCFIRSTBANK at the airport and spent some time in the lounge before boarding. Far better than waiting at the gate!!

[Pintu @Pintuu0]

My laptop suddenly stopped working and I had to get a new one. I was short on funds at the time so I checked first money loan.. Went through the details and applied for the loan. Thanks @idfcfirstbank for disbursing in just half an hour.. Much appreciated 👍

[CA Akhil Pachori @akhilpachori]

Adani Airport is being valued at ~$18 billion pre-money, with Temasek, BlackRock-managed funds, Alpha Wave and Premji Invest coming in through a fresh equity issue. After the three tranches, they’ll collectively own ~5.54%.

That’s meaningful institutional validation for an airport platform that already operates 8 airports and handles 23%+ of India’s passenger traffic.

And this isn’t simply about adding terminal capacity.

The capital is going into airport modernisation, capacity expansion towards ~200 million passengers a year, and planned Airport City development.

That last part is important. The airport opportunity in India is increasingly moving beyond aeronautical revenue. Airports are becoming larger commercial ecosystems around which retail, hospitality, offices, entertainment and connectivity can develop.

For Adani, this brings long-term institutional capital into that expansion while it remains the controlling shareholder.
https://t.co/AVEznWM9xt

[Manas Muduli @manas_muduli]

If you want to understand where India’s infrastructure supercycle is heading, look at the $18 billion benchmark just set for Adani Airports.

This isn’t a standard infra play. Based on the top investors backing this round, the blueprint looks a lot more like a hybrid tech, logistics, and real estate powerhouse than a traditional transit concession.

They are building the capacity to handle 200 million flyers, with a plan to develop an Airport City spanning 22 million sq. ft. of commercial, technology, and retail ecosystems.

[Vironika @vironikaom]

It’s wild how one field trip can change a trajectory.

Gautam Adani has often mentioned that his ambition started when he saw Kandla Port as a boy. What I appreciate about Project Udaan is that it doesn’t just keep that as a nice founder story, it actually scales it.

Giving lakhs of students that exact same chance to experience the scale of projects up close. When a 14 year old finally sees how massive these operations are in real life, they stop just memorizing for exams and start actually visualizing a career. That kind of exposure is the real impact.

[Gablu shah @GabluShah6248]

@dirtigmanshu Ye wala repeat pe dekh sakte hain