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AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank [2] and India’s largest [3] tech-led [4] small finance bank, based in Jaipur. It was founded as vehicle finance company and NBFC , AU Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April 2017.
As the company transformed into a Small Finance Bank on 19 April 2017, he became the Managing Director & CEO of AU Small Finance Bank. [5] In 2017, the IPO of the AU Bank was oversubscribed by more than 53 times. As of May 2021, the bank has a valuation of close to ₹ 30,000 crore (US$3 billion).
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An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors [1] and usually also to retail (individual) investors. [2] An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges.
ASBA (Applications Supported by Blocked Amount) is a process developed by India's Stock Market Regulator SEBI for applying to IPOs, Rights issue, FPS etc. ASBA is stipulated by SEBI, and available from most of the banks operating in India. This allows the investors money to remain with the bank till the shares are allotted after the IPO.
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