AU Small Finance Bank raises Rs 563 crore from anchor investors

IPO

AU Small Finance Bank Limited has finalised the allocation of 1.57 crore equity shares worth Rs 563 crore to 34 anchor investors at Rs 358 apiece, the company said in a statement on Tuesday.

The initial public offering (IPO) of AU Small Finance Bank will open for subscription on June 28, with a price band of Rs 355-358 per share.

“The Company proposes to open on 28th June, 2017, an initial public offering of 53,422,169  equity shares of face value of Rs 10 each (“Equity Shares”) for cash, the statement said.

Some of the anchor investors include Government of Singapore, Kuwait Investment Authority Fund 225, Blackrock India Equities (Mauritius) Limited and Blackrock India Equity Fund.

This will be the fifth and last public issue for the month of June, followed by CDSL, Tejas Networks, GTPL Hathway and Eris Lifesciences.

Bids can be made for a minimum of 41 equity shares and in multiples of 41 shares thereafter. The issue will close on June 30.

Equity shares are proposed to be listed on BSE and National Stock Exchange of India. ICICI Securities, HDFC Bank, Motilal Oswal Investment Advisors and Citigroup Global Markets India will act as book running lead managers for the issue.

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.