AU Small Finance Bank gains on planning to raise funds
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AU Small Finance Bank is currently trading at Rs. 742.75, up by 5.25 points or 0.71 % from its previous closing of Rs. 737.50 on the BSE.
The scrip opened at Rs. 735.05 and has touched a high and low of Rs. 744.50 and Rs. 733.25 respectively. So far 11461 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 794.95 on 29-May-2023 and a 52 week low of Rs. 538.80 on 15-Jul-2022.
Last one week high and low of the scrip stood at Rs. 784.95 and Rs. 732.90 respectively. The current market cap of the company is Rs. 49259.49 crore.
The promoters holding in the company stood at 25.54 % while Institutions and Non-Institutions held 60.37 % and 14.09 % respectively.
AU Small Finance Bank is planning to raise funds by issue of equity shares 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 shareholders approval and government/regulatory/ statutory approvals, and requirements, as applicable.
The bank is also planning to borrow/raise funds 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, subject to necessary approvals and requirements, as applicable. The Board of Directors of the Bank will be held on June 29, 2023, inter alia, consider and approve the same.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
