AU Small Finance Bank mops up Rs 563 cr from anchor investors

AU Small Finance Bank today raised Rs 563 crore from 34 anchor investors by allotting shares at Rs 358 apiece -- the upper price band of its IPO.

The company's initial public offer opens tomorrow and closes on June 30.

Government of Singapore, Kuwait Investment Authority, BlackRock, Nomura Singapore, HSBC Global Investment Funds -- Indian Equity and Wells Fargo Emerging Markets Equity Fund are among the anchor investors.

According to a filing to the stock exchanges, AU Small Finance Bank has allotted little over 1.57 crore shares to anchor investors at the price of Rs 358 per scrip.

Price band for the offer is Rs 355 to Rs 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.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)