IPO Alert: Au Small Finance Bank Sets IPO Price Band

AU Small Finance Bank, on Monday, said it has set the price band of its Initial Public Offering (IPO) at Rs 355 to Rs 358 per share.

The size of IPO would be Rs 1912 crore, on the upper price band. It will open for subscription from 28 June to 30 June.

The group and the promoter would be diluting their stake by 3% to 33% through the IPO.

Other shareholders would also partly offer their stake, namely Redwood Investment, International Finance Centre (IFC), Labh Investments, Ourea Holdings and Kedaara Capital Alternative Investments.

Bids can be made for a minimum of 41 shares and in multiples of 41 shares thereafter.

AU Small Finance in one of the 10 entities that were granted a small finance bank licence by the RBI in 2015 and has started it operations in April 2017.

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