New Delhi: The initial public offer of AU Small Finance Bank was subscribed 18% on the first day of the three-day bidding on Wednesday.

The IPO, to raise Rs1,912 crore, received bids for 66,27,486 shares against the total issue size of 3,76,95,520 shares (excluding the anchor portion of 15,726,649 shares), data available with the NSE showed.

Qualified institutional buyers (QIBs) did not bid on the first day, while the category reserved for non-institutional investors was subscribed 8% and that of retail investors 32%.

AU Small Finance Bank yesterday raised Rs563 crore from 34 anchor investors. Price band for the offer, which would close on 30 June, is Rs355-358 per share.

The book running lead managers to the offer are ICICI Securities, HDFC Bank (Investment Banking Group), Motilal Oswal Investment Advisors and Citigroup Global Markets India.

AU Small Finance Bank received licence from the RBI to set up a small finance bank in December 2016 and commenced operations from April this year. PTI

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