AU Small Finance Bank IPO Subscription Continue To Rise To 30%

AU Small Finance Bank Limited got subscribed by 30% as of 1145 hours on its second day of subscription on Thursday. The total issue size of the IPO stood at 3,76,95,520 shares. The total bids received stood at 1,14,10,792 shares and total bids received at cut-off price stood at 96,34,959 shares.

IPO is going to issue 53,422,169 equity shares of face value Rs 10 per share. The IPO would be following the book building process wherein the price band is set at Rs 355 to Rs 358 per share. The floor price is 35.50 times the face value and the cap price is 35.80 times the face value.

The minimum order quantity for the IPO is one market lot containing 41 shares. Therefore, bids can be made for a minimum of 41 equity shares and in multiples of 41 equity shares thereafter.

The price/earnings ratio based on diluted EPS (excluding exceptional item) for FY 2017 for the issuer at the upper end of the price band is as high as 30.49 as compared to the average industry peer group
P/E ratio of 30.16.

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