AU Small Finance Bank has received approval to augment the capital by issue of Basel II compliant, Tier II, Non-Convertible Redeemable Bonds in Indian rupees, being classified as subordinated debt in one or more tranches upto Rs 500 crore including green shoe option. The Board of Directors of the company at their meeting held on November 22, 2018, approved the same.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused non-banking 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.
