AU Small Finance Bank has received an approval for the issuance of Unsecured, Rated, Listed, Redeemable, Subordinated, Non-Convertible, Lower Tier II Bonds in the form of Non-Convertible Debentures (NCDs) being categorized as Tier II Capital under Basel II norms up to Rs 600 crore including green shoe option of Rs 200 crore. The Board of Directors at its meeting held on July 29, 2022 has considered and approved 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.
