State Bank of India gains 281% on Arcil IPO stake as shares sell at Rs 733 crore value

State Bank of India holds a stake valued at Rs 152.39 crore in Asset Reconstruction Company (India) Ltd, representing a 281% gain on its original investment of Rs 40 crore. Federal Bank has seen similar success, with its portfolio rising from an acquisition cost of Rs 2.48 crore to a valuation of Rs 9.74 crore, translating to a 292% increase. Arcil plans to open an offer for sale on September 9 and close the book on September 11 at a total value of approximately Rs 733 crore. Private lender Federal Bank invested in Arcil through acquisitions totaling over Rs 2.48 crore, and its stake now sits near the upper end of the proposed price band at Rs 139 per share. Promoters Avenue India Resurgence holds the largest equity stake at nearly 70%, while GIC-backed Lathe Investment owns a separate 5% portion. Public shareholders include State Bank of India with roughly 20% and Federal Bank with slightly over 1%. Separately, Kanohar Electricals Ltd prepares to begin its initial public offering on September 8 at a price range between Rs 601 and Rs 632 per share. The listing involves a fresh issue worth up to Rs 300 crore combined with nearly 1.20 crore shares for sale, potentially raising over Rs 10,557 million. Grey market premiums suggest strong investor demand ahead of both listings.