AU Small Finance Bank’s board has approved raising of ₹11,000 Crore, as disclosed in an exchange filing. The bank plans to raise ₹5,000 Crore through private placement, qualified institutions placement (QIP), preferential allotment, or a combination thereof.
Additionally, ₹6,000 Crore will be raised through bonds and non-convertible debentures (NCDs), in one or more tranches.
Earlier on June 20, private equity firm WestBridge Capital divested a 1.75 percent stake in AU Small Finance Bank for ₹845 Crore through an open market transaction.
WestBridge Capital’s affiliate, Westbridge AIF I, sold 1.30 Crore shares of AU Small Finance Bank via a bulk deal on the National Stock Exchange (NSE).
Separately, YES Bank also approved fundraising through the issuance of debt securities, targeting funds in Indian and foreign currency.
The fundraising options for YES Bank include non-convertible debentures (NCDs), bonds, or medium-term notes (MTNs), among others, as stated by the bank.
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