AU Small Finance Bank fixes IPO price band at ₹355-358 per share1 min read . Updated: 19 Jun 2017, 09:57 PM IST
The group and the promoter of AU Small Finance Bank would be diluting their stake by 3% to 33% through the IPO
Mumbai: AU Small Finance Bank on Monday said it has fixed a price band of Rs355 to Rs358 per share for its initial public offering (IPO).
On the upper end of the price band, the size of the IPO would be Rs1,912 crore. The share sale will open on 28 June and close on 30 June.
“It is an initial public offering of 53,422,169 shares of face value of Rs10 each," the company said.
Through the IPO, the group and the promoter of the company would be diluting their stake by 3% to 33%.
Other shareholders—Redwood Investment, International Finance Centre (IFC), Labh Investments, Ourea Holdings and Kedaara Capital Alternative Investments—would also partly offer their stake.
Bids can be made for a minimum of 41 shares and in multiples of 41 shares thereafter.
AU Small Finance in one of the 10 entities that were granted a small finance bank licence by the RBI in 2015. It started operations in April this year.