Left Menu
Development News Edition


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.

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.

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



Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....

How to avoid fake universities and fishing bait like Farmington

As education sharks are roaming around to prey, we present a guide on how to mitigate hunters and reach to a genuine universityinstitute. In this era of commercialization of education, the fake universities and economic frauds in educationa...


Latest News

Lionel Messi surpasses Ronaldo to record most hat-tricks in La Liga

Argentina striker Lionel Messi on Saturday local time surpassed Cristiano Ronaldo to record the most number of hat-tricks in La Liga. He achieved the feat against RCD Mallorca. Messi now has 35 hat-tricks in the tournament, while Ronaldo ha...

Premier League: United wins 'Manchester Derby'

Manchester United defeated Manchester City 2-1 on Saturday local time in the ongoing Premier League to move to the fifth spot in the tournament standings. With this loss, City has now slipped to the third spot in the standings and the defen...

Avs win 6th straight, hand Bruins 1st regulation home loss

Ian Cole scored the tiebreaking goal midway through the second period as the Colorado Avalanche handed the Boston Bruins their first regulation home loss of the season, 4-1, on Saturday. Valeri Nichushkin, Andre Burakovsky and Gabriel Lande...

North Korea conducts 'very important test': KCNA

North Korea has conducted a very important test at its Sohae satellite launch site, state media reported Sunday, as nuclear negotiations between Pyongyang and Washington remain deadlocked. A very important test was carried out at the Sohae ...

Give Feedback