AU Small Finance Bank IPO to open on June 28

AU Small Finance Bank, a retail focused non-banking finance company (NBFC), will launch its Initial Public Offer (IPO) on June 28. The price band for the IPO is Rs 355 to Rs 358 per share. 

A total of 53.42 million shares of the company is being put on the block by Au Small Finance’s existing shareholders including International Finance Corporation, Kedaara Capital, Ourea Holdings and Redwood Investment.  

At the top end of the price band, the IPO will mop up around Rs 1,920 crore. The issue closes on June 30. 

ICICI Securities, HDFC Bank, Motilal Oswal and Citigroup are the investment banks handling the IPO.