AU Small Finance Bank IPO oversubscribed 29 times

AU Small Finance Bank IPO oversubscribed 29 times

The initial public offer of AU Small Finance Bank was oversubscribed 28.80 times till late afternoon trade on the last day of bidding today.

The IPO to raise Rs 1,912 crore received bids for 1,08,56,43,264 shares against the total issue size of 3,76,95,520 shares, data available with the NSE till 1515 hours showed.

The offer was subscribed 1.36 times till yesterday.

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

Price band for the offer 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.