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NEW DELHI: Jaipur-based AU Small Finance Bank has raised Rs 625.50 crore by issuing shares to a set of investors through qualified institutional placement (QIP). The bank has completed the allotment of equity shares under QIP and has successfully raised Rs 625.5 crore through the issuance of 50,00,000 equity shares at an issue price of Rs 1,251 per share, the bank said in a regulatory filing. The issue was launched on March 9, with a floor price of Rs 1,181.06 apiece. The QIP witnessed strong reception from both domestic and international institutional investors and the QIP was subscribed by sovereign wealth funds, large foreign portfolio investors, life insurance companies and a domestic mutual funds, AU Small Finance Bank said.
I would be raising more money in the next 18 to 24 months but as of now, we are very comfortable around our capital adequacy ratio, says the MD & CEO of AU SFB.
Financials shares fall business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
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Financials stocks were trading in the positive zone, with the S&P BSE Finance index rising 96.61 points or 1.26% at 7750.89 at 09:48 IST. Among the components of the S&P BSE Finance index, Geojit Financial Services Ltd (up 7.64%), Centrum Capital Ltd (up 5.86%),Aditya Birla Capital Ltd (up 5.75%),IFCI Ltd (up 5.56%),Balmer Lawrie Investment Ltd (up 5.56%), were the top gainers. Among the other gainers were Central Bank of India (up 4.85%), SBI Life Insurance Company Ltd (up 4.11%), Aditya Birla Money Ltd (up 3.66%), Indian Overseas Bank (up 2.84%), and AU Small Finance Bank Ltd (up 2.75%). On the other hand, Bank of India (down 1.84%), AAVAS Financiers Ltd (down 1.8%), and CSB Bank Ltd (down 1.44%) moved lower.