AU Small Finance Bank Gains Nearly 2% On QIP Issue
AU Small Finance Bank shares ended higher by nearly 2Â per cent on the BSE on Wednesday as the private sector lender launched its qualified institutional placement (QIP) to raise capital. The shares of the small finance bank ended the session at Rs 1,255, up 1.9 per cent, on the BSE.
AU Small Finance Bank has set the floor price of the issue at Rs 1,181.06 per share and may offer a discount of up to 5 per cent, the bank said in a regulatory filing to the stock exchanges. The bank's capital-raising committee will meet on March 15 to determine the issue price and discount to be offered, the bank added.
The Sensex and Nifty gained for the third straight session, led by information technology and metal stocks. The Sensex ended 254 points or 0.5 per cent higher at 51,280 and Nifty 50 index climbed 76 points or 0.51 per cent to close at 15,175.
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