Mint Explainer | What the listing plans of India’s oldest bad bank say about the asset reconstruction industry
India’s oldest asset reconstruction company (ARC) wants to go public. Asset Reconstruction Co. (India) Ltd (ARCIL) filed its draft prospectus on 1 August, with four of its shareholders—Avenue India Resurgence Pte. Ltd, State Bank of India, Lathe Investment Pte Ltd, and The Federal Bank Ltd—looking to sell up to 105.46 million shares. If approved, it…