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AU Small Finance Bank fixes IPO price band at Rs 355-358/share

Press Trust of India  |  Mumbai 

AU Small today said it has fixed a price band of Rs 355 to Rs 358 per share for its initial public offering (IPO).

On the upper end of the price band, the size of the IPO would be Rs 1,912 crore.

The share sale will open on June 28 and close on June 30.

"It is an initial public offering of 53,422,169 of face value of Rs 10 each," the company said.

Through the IPO, the group and the promoter of the company would be diluting their stake by 3 per cent to 33 per cent.

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

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

AU Small in one of the 10 entities that were granted a small licence by the RBI in 2015.

It started operations in April this year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 19 2017. 16:48 IST