AU Small Finance Bank surges 10% after block deals

The stock surged 10% to Rs 711 on the BSE in early morning trade after a more than 9% equity trade in block deals.

Shares of AU Small Finance Bank have surged 10% to Rs 711 on the BSE in early morning trade on huge volumes.

Till 09:46 am; around 27 million equity shares representing 9.3% of total equity of AU Small Finance Bank have changed hands on the BSE, the exchange data shows. On an average sub 40,000 shares were traded daily in past two weeks.

The name of the buyers and sellers were not ascertained immediately. According to a TV report, Warburg Pincus sold 5% stake in AU Small Finance to marquee investor.

Last month, on July 13, 2018, World