Shares of AU Small Finance Bank made a stellar debut today, surging nearly 47 per cent over the issue price of Rs 358.
The stock listed at Rs 525, up 46.64 per cent from the issue price on BSE. It later touched a high of Rs 544, reflecting a sharp gain of 51.95 per cent.
About 279.28 lakh shares of the company were traded on BSE during the morning trade.
The company's market valuation stands at Rs 15,244.38 crore.
Due to technical glitch at the National Stock Exchange trading in the stock price of the company was not updated.
The IPO of AU Small Finance Bank was oversubscribed 53.60 times during June 28-30 and raised Rs 1,912 crore.
Qualified Institutional Buyers (QIBs) portion was over-subscribed 78.77 times, non-institutional investors a staggering 143.51 times and retail investors 3.52 times.
Price band for the offer was fixed at Rs 355-358 per share.
The book running lead managers to the offer were ICICI Securities, HDFC Bank (Investment Banking Group), Motilal Oswal Investment Advisors and Citigroup Global Markets India.
AU Small Finance Bank received licence from the RBI to set up a small finance bank in December 2016 and commenced operations from April this year.
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