AU Small Finance Bank to raise Rs 500 cr via bonds

AU Small Finance Bank Thursday said it will raise Rs 500 crore by issuing bonds in one or more tranches.

The Board of Directors at their meeting held on Thursday, November 22, 2018 has considered and approved to augment the capital, the bank said in a regulatory filing.

The money will be raised by issuing Basel II compliant, Tier II, non-convertible redeemable bonds, being classified as subordinated debt in one or more tranches up to Rs 500 crore, including green shoe option, it said.

Stock of AU Small Finance Bank closed 0.11 per cent down at Rs 588.80 on the BSE.