Tuesday, 11 July 2017

Stock Market Updates - AU Small Finance Bank makes strong listing gains

AU Small Finance Bank on Monday made a strong debut on BSE, as the scrip got listed at Rs 525, a 46.65% premium to the issue price of Rs 358 a piece.

The scrip eventually closed the day at Rs 541.20, up Rs 183.20 or 51.17 %. At this price, the bank commands a market capitalization of Rs 15,383.66 crore. 

The Rs 1,912 crore IPO, which was sold between June 28 and June 30, was subscribed 53.60 times. The category reserved for qualified institutional buyers (QIBs) was subscribed 78.77 times, while the quota reserved for non-institutional investors (NIIs) and retail individual investors (RIIs) were subscribed 143.51 times and 3.52 times, respectively. 

AU Small Finance Bank in December 2016 received licence from the Reserve Bank of India (RBI) to set up a small finance bank. It commenced operations in April this year. 

The bank operates in three business segments, where vehicle finance accounts for 50% of AUM, micro, small & medium enterprises 30% and small & medium enterprises 20 per cent. Over FY 15-17, the lender’s gross AUM saw a 39% CAGR resulting in 58 per cent PAT CAGR during the same period. 

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