AU Small Finance Bank shares rise nearly 3% after lender raises Rs 625.50 crore via QIP
AU Bank intends to use the net proceeds for supporting long-term growth aligned to the bank's internal risk appetite.
AU Small Finance Bank will make its stock market debut on 10 July after successfully concluding its initial public offer late last month.
The IPO of AU Small Finance Bank was oversubscribed 53.60 times during June 28-30 and raised Rs 1,912 crore.
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Qualified Institutional Buyers (QIBs) portion was oversubscribed 78.77 times, non-institutional investors a staggering 143.51 times and retail investors 3.52 times.
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Price band for the offer was fixed at Rs.355-358 per share.
The book running lead managers to the offer were 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.
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