Kuwait Investment Authority To Invest In India's Au Small Finance Bank

AU Small Finance Bank raised Rs 563 crore from 34 anchor investors by allotting shares at Rs 358 apiece -- the upper price band of its IPO.

Government of Singapore, Kuwait Investment Authority, BlackRock, Nomura Singapore, HSBC Global Investment Funds -- Indian Equity and Wells Fargo Emerging Markets Equity Fund are among the anchor investors.

According to a filing to the stock exchanges, AU Small Finance Bank has allotted little over 1.57 crore shares to anchor investors at the price of Rs 358 per scrip.

Price band for the offer is Rs 355 to Rs 358 per share.

Anchor investors are institutional investors who accept a one-month lock-in period for a sizeable allocation of shares and support a public offering. The Jaipur-based AU Small Finance Bank is hoping to raise $1.6 billion through the IPO. 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.

SOURCE : IIK

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