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AU Small Finance Bank to make a debut on bourses on July 10

AU small finance bank

Mumbai: After stellar response to the issue, AU Small Finance Bank is all set to make a debut on exchanges on July 10. The issue price is fixed at higher end of price band of Rs 355-358.

Experts feel the stock price is expected to open over Rs 400, given the overwhelming response to the public issue and indication from the grey market premium that is around Rs 75-80.

The initial public offer of AU Small Finance Bank, which was opened during June 28-30, was oversubscribed 53.60 times on strong response from QIBs and HNIs.

The portion set aside for qualified institutional buyers was oversubscribed 78.77 times and non-institutional investors 143.51 times while the reserved portion of retail investors oversubscribed 3.31 times.

AU Small Finance Bank raised Rs 1,912 crore through the issue, including Rs 563 crore from 34 anchor investors.

The public issue was an offer for sale by promoters - Sanjay Agarwal, Jyoti Agarwal, Shakuntala Agarwal, Chiranji Lal Agarwal and MYS Holdings; and investors - Redwood Investment, International Finance Corporation, Labh Investments, Ourea Holdings and Kedaara Capital Alternative Investment Fund.


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