AU Small Finance Bank Friday said has raised tier II capital of Rs 500 crore through non convertible bonds issued on a private placement basis.
The bank raised the fund from a group of domestic investors which included mutual funds, banks, insurance companies and non-banking finance companies.
The base size of the issue was Rs 300 crore and a green shoe option of Rs 200 crore. The six-and-a-half year bond offered a coupon of 10.4 per cent, the company said in a release.
Earlier this year, Temasek Holdings, an investment arm of Government of Singapore, had committed an equity investment of Rs 1,000 crore in the bank.
Out of this, Temasek has already invested Rs 475 crore in June 2018 and the remaining amount of Rs 525 crore is expected to be invested by or before December 2019.
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Small finance banks are required to maintain a total capital adequacy ratio of 15 per cent with a minimum tier 1 CRAR ratio of 7.5 per cent.
As on September 30, AU Bank had a total CRAR of around 17.8 per cent with a tier 1 CRAR of close to 17.2 per cent indicating enough cushion for raising tier II capital. ********************* M&M sets up carbon-neutral facility in Igatpuri *
Nashik: Auto major, Mahindra and Mahindra (M&M) group has set up the country's first carbon-neutral manufacturing facility in Igatpuri, Maharashtra.
It is certified by Bureau Veritas, a global testing, inspection and certification (TIC) firm, Vijay Kalra, chief executive officer (CEO), Mahindra Vehicle Manufacturers Ltd and chief manufacturing operations, Mahindra and Mahindra reporters Friday.
M&M was the first company in the world to commit to doubling its energy productivity by 2030 by joining The Climate Group's EP100 programme. Using energy efficient lighting, efficient heating, ventilation, and air conditioning (HVAC), motors and heat recovery projects it has doubled the energy productivity of its automotive business almost 12 years ahead of schedule, Kalra added. ***************** Zomato launches services in 30 more cities *
Online food ordering firm Zomato Friday said it is launching services in 30 more cities over the week.
The new cities include Puducherry, Jamshedpur, Ambala, Meerut, Haridwar, Bhavnagar, Ujjain, Puri, among others.
With this addition, the company's food delivery services would be available across 93 cities, with over 75,000 restaurants listed on the platform, the company said in a statement. Zomato aims to have a presence in 100 cities in the country shortly, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
