AU Small Finance Bank IPO oversubscribed 1.36 times on Day 2

The initial public offer of AU Small Finance Bank was oversubscribed 1.36 times on the second day of the three-day bidding today.

The IPO, to raise Rs 1,912 crore, received bids for 5,14,01,659 shares against the total issue size of 3,76,95,520 shares, data available with the NSE showed.

The category reserved for qualified institutional buyers (QIBs) was oversubscribed 2.47 times, non institutional investors 70 per cent and retail investors 1.07 times.

AU Small Finance Bank on Tuesday raised Rs 563 crore from 34 anchor investors.

Price band for the offer, which would close tomorrow, is Rs 355-358 per share.

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.