AU Small Finance Bank to make market debut on Monday
New Delhi: AU Small Finance Bank will make its stock market debut on 10 July after successfully concluding its initial public offer (IPO) in June.
The IPO of AU Small Finance Bank was oversubscribed 53.60 times during 28-30 June and raised Rs1,912 crore.
The category reserved for qualified institutional buyers (QIBs) was oversubscribed 78.77 times, while the portions reserved for non-institutional investors and retail investors were oversubscribed 143.51 times and 3.52 times, respectively.
The price band for the offer was fixed at Rs355-358 per share.
The book running lead managers to the offer were ICICI Securities, HDFC Bank, Motilal Oswal Investment Advisors and Citigroup Global Markets India.
AU Small Finance Bank received licence from the Reserve Bank of India (RBI) to set up a small finance bank in December 2016 and commenced operations from April 2017.