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22 January, 2018 10:20 IST
''Subscribe'' AU Small Finance Bank IPO: GEPL Capital
Source: IRIS | 28 Jun, 2017, 08.51AM
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GEPL Capital has recommended to 'Subscribe' the initial public offer (IPO) of AU Small Finance Bank.

Au Financiers (India) based in Jaipur, Rajasthan was incorporated in 1996, and was operating as a non-banking finance company focused on retail segment serving low and middle income individuals and businesses that have limited or no access to formal banking and finance channels. Au Financiers operates in 3 business lines namely Vehicle finance, Micro, small and medium enterprises (MSMEs)
loans, Small and medium enterprises (SMEs) loans.

Commenting on the AU Small Finance Bank IPO, GEPL Capital said, ''AU Small Finance Bank stands to gain from operating leverage. At a P/B of 5.09xs of FY17 BV. We believe that AU Small Finance Bank. demands a discount to its domestic peers. We assign a Subscribe rating to the IPO.''

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