Home » Finance » AU Small Finance Bank stock falls 7% as pre-IPO lock-in period ends for investors

AU Small Finance Bank stock falls 7% as pre-IPO lock-in period ends for investors

AU Small Finance Bank share price fell 6.66 percent intraday on Monday after the pre-IPO lock-in period ended for investors on July 7.

The total of 17 crore shares were under the lock-in period which is one year from the allotment of IPO shares.

It included 9 crore shares of promoters and 8 crore shares of non-promoters.

Lock-in means investors can’t sell their shares for a year after investing.

The stock price rallied 88.5 percent from its issue price of Rs 358 per share. It had listed at a premium of 48 percent (Rs 530) on July 10, the first day of trading on exchanges.

AU Small Finance Bank had garnered more than Rs 1,900 crore through the IPO that was oversubscribed by 53.6 times.

The bank received licence from the RBI to set up a small finance bank in December 2016 and commenced operations from April in 2017.

At 14:28 hours IST, the stock price was quoting at Rs 643.00, down Rs 32.00, or 4.74 percent on the BSE.

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