AU Small Finance Bank lists at a massive premium, trades at Rs 525 per share
Au Small Finance Bank has listed at a premium on the BSE.
At 1001 am, shares of Au Small Finance Bank were trading at Rs 527.85 per share.
Au Small Finance Bank's pre-market price discovery has come in at Rs 525 per share at the BSE on Monday July 10, 2017. This is a 46.65% premium at its issue price of Rs 358 per share.
The shares of Au Small Finance Bank are expected to list at a premium of Rs 167 per share at the BSE.
The initial public offering of the Bank was oversubsribed on its second day itself with the bank looking to raise Rs 1912 crore by issuing nearly 3.76 crore shares.
AU Small Finance Bank on Tuesday raised Rs 563 crore from 34 anchor investors.
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.