AU Small Finance Bank Ltd to raise funds through QIP

The Board of Directors of AU Small Finance Bank Limited ("the Bank") at its Meeting held on Thursday, June 29, 2023 has, considered and approved the raising of funds by issue of equity shares for an aggregate amount not exceeding Rs. 5,000 Crore (Rupees Five Thousand Crore Only) through private placement or qualified institutions placement (QIP) or preferential allotment or through a combination thereof or any other alternative mode, as may be considered appropriate, subject to approval of the shareholders and government / regulatory / statutory approvals, and requirements, as applicable.

The board also approved borrowing / raising of funds for an amount not exceeding Rs. 6,000 Crore (Rupees Six Thousand Crore Only), in one or more tranches, by issue of debt instruments including but not limited to Bonds and Non-Convertible Debentures or such other debt securities as may be permitted by RBI from time to time, and necessary approvals and requirements, as applicable.

Shares of AU Small Finance Bank Limited was last trading in BSE at Rs. 749.90 as compared to the previous close of Rs. 745.50. The total number of shares traded during the day was 21510 in over 1464 trades.

The stock hit an intraday high of Rs. 755.00 and intraday low of 744.55. The net turnover during the day was Rs. 16113165.00.

Source : Equity Bulls

Keywords

AUSmallFinanceBank INE949L01017 AUBANK FundRaising PrivatePlacement QIP PreferentialIssue