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AU Small Finance Bank Raises Over Rs 600 Crore

The bank has completed the allotment of equity shares under its Qualified Institutions Placement (QIP) and has successfully raised Rs 625.5 crore through the issuance of 50,00,000 equity shares at an issue price of Rs 1,251/- per share

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The Jaipur-based AU Small Finance Bank on Monday said it has raised Rs 625.50 crore through sale of shares to institutional investors.

The bank has completed the allotment of equity shares under its Qualified Institutions Placement (QIP) and has successfully raised Rs 625.5 crore through the issuance of 50,00,000 equity shares at an issue price of Rs 1,251/- per share, the bank said in a regulatory filing.

The issue was launched on March 9 with a floor price of Rs 1,181.06 a piece.

The QIP witnessed strong reception from both domestic and international institutional investors and the entire QIP was subscribed by sovereign wealth funds, large foreign portfolio investors, life insurance company and domestic mutual funds, AU SFB said.

(PTI)