New Delhi, Jul 10 (PTI) Shares of AU Small Finance Bank closed at a premium of over 51 per cent against the issue price of Rs 358 in debut trade today.

The stock listed at Rs 525, reflecting a sharp gain of 46.64 per cent over the issue price on BSE. During the day, it zoomed 52.23 per cent to Rs 545. It finally closed at Rs 541.20, up 51.17 per cent.

Due to a technical glitch at the National Stock Exchange, trading in the stock price of the company was not updated till early afternoon trade.

The stock later opened at Rs 530, up 48 per cent on NSE.

It touched a high of Rs 540, rising sharply by 50.83 per cent.

Closing figure for the stock was not available.

On the volume front, 392.58 lakh shares of the company were traded on BSE during the day.

The company’s market valuation stands at Rs 15,383.66 crore.

The IPO of AU Small Finance Bank was oversubscribed 53.60 times during June 28-30 and raised Rs 1,912 crore.

Qualified Institutional Buyers (QIBs) portion was over-subscribed 78.77 times, non-institutional investors a staggering 143.51 times and retail investors 3.52 times.

Price band for the offer was fixed at Rs 355-358 per share.

The book running lead managers to the offer were ICICI Securities, HDFC Bank (Investment Banking Group), Motilal Oswal Investment Advisors and Citigroup Global Markets India.

AU Small Finance Bank received licence from the RBI to set up a small finance bank in December 2016 and commenced operations from April this year.

“This issue received an overwhelming response from various categories of investors with an overall subscription of 54 times and got listed today at a whopping 47 per cent premium,” said Ajay Saraf, Executive Director, ICICI Securities Ltd.

This is published unedited from the PTI feed.