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The bank’s board has approved raising of funds by issue of equity shares for aggregating amount upto Rs 5,000 crore through private placement or qualified institutions placement (QIP) or preferential allotment or through a combination thereof or any other alternative mode, subject to necessary approvals.
Additionally, the board of directors also approved borrowing/raising of funds aggregating upto Rs 6,000 crore in one or more tranches, by issue of debt instruments including but not limited to bonds and non-convertible debentures (NCDs) or such other debt securities as may be permitted by RBI from time to time, and necessary approvals and requirements, as applicable.
Furthermore, AU SFB has set 12 July, 2024 as record date for determining the members who will be eligible for final dividend, approved by the shareholders in the upcoming AGM.
AU Small Finance Bank (AU SFB/AU) is a scheduled commercial bank, a Fortune India 500 Company and the largest Small Finance Bank in the country.
The bank’s net profit declined to Rs 370.74 crore in Q4 FY24 as against Rs 424.63 crore in Q4 FY23. Total income grew 29.8% YoY to Rs 3,385.12 crore in the quarter ended March 2024.
The scrip rose 0.91% to currently trade at Rs 672 on the BSE.
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