Au Small Finance Bank IPO oversubscribes
The IPO launched by Au Small Finance Bank was oversubscribed 53.48 times. The IPO to raise `1912 crore received bids for 201 crore shares against the total issue size of 3,76,95,520 shares, according to data at the NSE. The bank had earlier raised `563 crore from 34 anchor investors. Price band for the IPO was `355-358 per share. The bank received license from the RBI to set up a small finance bank in December 2016 and commenced operations from April this year. The portion set aside for qualified institutional buyers oversubscribed 78.77 times and non-institutional investors 143.51 times. The reserved portion of retail investors oversubscribed 3.31 times. The public issue is an offer for sale by the promoters, including Sanjay Agarwal, Jyoti Agarwal, Shakuntala Agarwal, Chiranji Lal Agarwal and MYS Holdings.