AU Small Finance Bank sets IPO price band at Rs 355-358 per share – Economic Times

MUMBAI: AU Small Finance Bank has set the price band of its initial public offering at Rs 355 to Rs 358 per share, the company said in a notice in Financial Chronicle newspaper today.

The company will be able to raise Rs 1,913 crore at upper end of price band. The offer will open on June 28 and close on June 30.

The shares will have a face value of Rs 10 each. The existing shareholders will sell 5.34 crore shares through offer for sale.

“The floor price is 35.50 times the face value and the cap price is 35.80 times the face value. Bids can be made for a minimum of 41 equity shares and in multiples of 41 equity shares thereafter,” the company said in the notice.

The price-to-earnings ratio based in diluted earnings per share (excluding exceptional item) for the financial year ended March for the issuer is as high as 30.49 as compared to average industry peer group P/E ratio of 30.16, the company added.

ICICI Securities, HDFC Bank, Motilal Oswal Investment Advisors, and Citigroup Global Markets India are the book running lead managers to the issue.

AU Small Finance Bank sets IPO price band at Rs 355-358 per share – Economic Times}