AU Small Finance Bank Friday said
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
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
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
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.)