AU Small Finance Bank To Raise Rs 11,000 Crore Via Equity And Debt
The bank will raise Rs 5,000 crore through qualified institutional placement and Rs 6,000 crore via issue of debt instruments.
The board of directors of AU Small Finance Bank Ltd. approved plans to raise Rs 11,000 crore through equity and debt instruments.
The Jaipur-based bank will raise Rs 5,000 crore through qualified institutional placement and other alternative modes, subject to approval from shareholders, government and other statutory bodies, according to the exchange filing on Thursday.
The lender will also raise Rs 6,000 crore through one or more tranches via the issue of debt instruments. This includes raising funds via bonds, non-convertible debentures and other debt securities as approved by the Reserve Bank of India, it said.
The 29th annual general meeting of the bank will be held on July 26. It has also declared July 12 as the record date for determining shareholders eligible for a final dividend, subject to approval by shareholders at the AGM.
Shares of AU Small Finance Bank closed 3.94% lower at Rs 665.20 apiece, as compared to a 0.72% rise in the benchmark BSE Sensex.
