AU Small Finance Bank announced that the meeting of its board of directors will be held on 27 June 2024, to consider the proposal of raising of funds by issue of equity shares.
The share may be issued 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.Meanwhile, the board of directors will also consider borrowing funds 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, subject to necessary approvals and requirements, as applicable.
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 banks 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 added 0.64% to currently trade at Rs 684.05 on the BSE.
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