AU Small Finance Bank IPO oversubscribed on Day 2

AU Small Finance Bank IPO oversubscribed on Day 2

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AU Small Finance Bank IPO oversubscribed on Day 2

The initial public offer of AU Small Finance Bank was oversubscribed till late afternoon trade on the second day of bidding on Thursday.

The IPO, to raise Rs 1,912 crore, received bids for 3,93,22,075 shares against the total issue size of 3,76,95,520 shares, reflecting an oversubscription of 1.04 times, data available with NSE till 16.15 hours showed.

AU Small Finance Bank on Tuesday raised Rs 563 crore from 34 anchor investors.

Price band for the offer, which would close tomorrow, is Rs 355-358 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.

[“Source-moneycontrol.”]