AU Small Finance Bank board mulls fund raising meeting on June 29

26 Jun 2023 , 09:52 AM

AU Small Finance Bank has announced that their board of directors will convene a meeting on Thursday, June 29, 2023, to discuss the possibility of raising funds through the issuance of equity shares and debt instruments.

The bank’s board will consider fund raise by issuing equity shares via private placement or Qualified Institutions Placement (QIP) or preferential allotment or may be through a combination or any other alternative source of fund raise, as the board may consider appropriate. The fund raising would be further subject to the approval from shareholders and government/regulatory/ statutory approvals, and requirements, as applicable.

Further, the company also said that in its upcoming meeting, board may consider to raise funds via issue of debt instruments, which may include bonds and non-convertible debentures, but not limited to said instruments as such. 

AU Small Finance Bank is a scheduled commercial bank. It is a Fortune 500 company and the largest small finance bank in the country.

At around 9.46 AM, AU Small Finance Bank was trading 0.31% higher at Rs 738.95, against the previous close of Rs 736.70 on NSE. The counter touched an intraday high of Rs 744.80 on today’s trade.

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