Au Small Finance Bank Limited to issue IPO on June 28

Au Small Finance Bank Limited is coming up with its initial public offerings (IPO). The IPO issue is going to hit the markets on June 28 and ends on June 30.
 
53,422,169 equity shares of face value Rs 10 per share are going to be issued in the IPO. The IPO would be following the book building process wherein the price band is set at Rs 355 to Rs 358 per share. The floor price is 35.50 times the face value and the cap price is 35.80 times the face value.
 
The minimum order quantity for the IPO is one market lot containing 41 shares. Therefore, bids can be made for a minimum of 41 equity shares and in multiples of 41 equity shares thereafter.
 
The Price/Earnings ratio based on Diluted EPS (excluding exceptional item) for FY 2017 for the issuer at the upper end of the price band is as high as 30.49 as compared to the average industry peer group P/E ratio of 30.16.
 
The Book Running Lead Managers for the issue are ICICI Securities Limited, HDFC Bank Limited, Motilal Oswal Investment Advisors Limited and Citigroup Global Markets India Private Limited. The four BRLMs associated with the offer have handled 37 public issues in the past three years out of which 13 issues closed below the offer price on listing dates.