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India's AU Small Finance Bank surges on trading debut after $296 million IPO
July 10, 2017 / 4:41 AM / 5 months ago

India's AU Small Finance Bank surges on trading debut after $296 million IPO

MUMBAI (Reuters) - Shares in India’s AU Small Finance Bank Ltd (AUFI.BO) jumped as much as 52 percent on their market debut after the lender’s 19.13 billion-rupee ($296.4 million) initial public offering of shares.

A man looks at a screen across the road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai February 6, 2014. REUTERS/Mansi Thapliyal/Files

The stock was trading at 526.05 rupees by 0430 GMT on the BSE stock exchange, compared with its IPO issue price of 358 rupees. It hit a high of 544 rupees in early deals.

    Stock quotes on the National Stock Exchange were not updating on Monday due to a technical glitch.

    The IPO had been subscribed 53.6 times, drawing strong interest from investors.

    ($1 = 64.5075 Indian rupees)

    Reporting by Devidutta Tripathy and Swati Bhat; Editing by Amrutha Gayathri

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