AU Small Finance Bank shares jump 3% as lender launches QIP issue

The issue has been set at a floor price of Rs 1,181.06 per share, on which the lender may offer a discount of not more than 5 per cent, according to its exchange filing.

Shares of AU Small Finance Bank were trading 3 per cent higher at Rs 1,268 on the BSE in intra-day trade on Wednesday after the private sector lender launched its qualified institutional placement (QIP) to raise growth capital.

The floor price of the issue has been set at Rs 1,181.06 per share, on which the lender may offer a discount of not more than 5 per cent, according to its exchange filing. The bank's capital-raising committee, it said, will meet on March 15 to determine the issue price and discount to be offered.

The bank said it intends to utilise the net