Temasek picks 5% in Au Small Finance for Rs 1,000 cr

Small finance bank, AU Small Finance Bank, today said Singapore-government owned investment firm, Temasek, has picked up 5 per cent stake in the bank for Rs 1,000 crore.

The company said this transaction would be one of largest primary capital infusions in the bank.

"This capital raise will strengthen our presence in both the digital and the physical marketplace," it's managing director and CEO, Sanjay Agarwal, said in a release.

The fund will allow the bank to remain sufficiently capitalised for the near-term, it added.

Other investors in the bank include IFC, Warburg Pincus, Chrys Capital and Kedaara Capital.

Last year, the bank raised Rs 1,913 crore from an offer-for-sale.

In FY18, the bank's disbursements grew more than 60 per cent and assets under management rose by around 50 per cent. In the previous fiscal it had mobilised Rs 8,000 crore of deposits.

As of end-March, the bank had 306 branches, 97 asset centers, 89 business correspondents outlets, 23 offices and 292 ATMs.