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AU Bank to consider fund raising plan

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AU Small Finance Bank said that the meeting of the board of directors of the company is scheduled on 2 May 2020 to consider and approve proposal for raising of funds by issue of equity shares.

AU Small Finance Bank said that the meeting of the board of directors of the company is scheduled on 2 May 2020 to consider and approve proposal for raising of funds by issue of equity shares through private placement, Qualified Institutions Placement (QIP) or preferential allotment or through a combination thereof or any other alternative mode, as may be considered appropriate.

The announcement was made after market hours yesterday, 29 April 2020. Shares of AU Small Finance Bank rose 4.99% to close at Rs 537.50 on 29 April 2020.

AU Small Finance Bank is a scheduled commercial bank which transited from an Asset Financing NBFC to an SFB; started in 1996; commenced banking operations in 19 April 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, April 30 2020. 08:35 IST
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