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AU Small Finance Bank's board approves fundraise of Rs 11,000 crore
Money Control
·
1y ago
Medial
AU Small Finance Bank has announced a fundraise of Rs 11,000 crore. Of this, Rs 5,000 crore will be raised through private placement or qualified institutions placement (QIP), while another Rs 6,000 crore will be raised through the issue of bonds and non-convertible debentures. Private equity firm WestBridge Capital has also recently divested a 1.75% stake in the bank for Rs 845 crore. Additionally, YES Bank has approved its own fund-raising plans through the issue of debt securities.
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Shares of AU Small Finance rise as lender applies for universal banking licence
Money Control
·
11m ago
Medial
AU Small Finance Bank has submitted its application to the Reserve Bank of India (RBI) to transition from a small finance bank (SFB) to a universal bank. The move comes as AU Small Finance Bank is in the process of merging with Fincare SFB. The RBI had outlined specific guidelines for SFBs to convert into universal banks, including having a minimum net worth of Rs 1,000 crore and a satisfactory track record. The conversion to a universal bank will allow AU Small Finance Bank to overcome the geographical limitations and lending caps of being an SFB.
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AU SFB submits application for universal banking licence
Livemint
·
11m ago
Medial
Jaipur-based AU Small Finance Bank has applied to the Reserve Bank of India (RBI) for approval to transition from a small finance bank to a universal bank. The bank's submission comes as it is in the process of merging with Fincare SFB. RBI guidelines state that only listed SFBs meeting certain eligibility criteria, including net worth, profitability, and asset quality, can convert to a universal bank. AU SFB and Ujjivan SFB are the only SFBs currently meeting the criteria. AU SFB reported a 30% increase in net profit for Q1 2022 compared to the same period last year.
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AU Small Finance Bank Shares Jump 7% as RBI Grants Universal Bank Licence Approval
StartupTalky
·
13h ago
Medial
AU Small Finance Bank shares surged over 7% following the Reserve Bank of India's approval for its transition from a Small Finance Bank to a Universal Bank. This makes AU the first to receive such consent. The RBI's green light acknowledges AU's robust governance and commitment to financial inclusion. Established as a vehicle finance firm in 1996, AU converted to a small finance bank in 2017. Its fiscal growth demonstrates solid financial performance and readiness for full-service banking.
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ICICI Bank’s board approves fundraising worth Rs 25,000 crore via NCDs
Money Control
·
1y ago
Medial
The board of ICICI Bank has approved raising funds through non-convertible debentures worth Rs 25,000 crore in the domestic market and through issuances of bonds in overseas markets up to $1.50 billion. The bank reported a net profit of Rs 10,707 crore for the January-March quarter, a 17% increase compared to the same period last year. The net interest income rose by 8% and the bank's gross non-performing asset stood at 2.16%. The board has also authorized the buyback of debt securities within applicable legal limits.
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UGRO Capital approves issuance of NCDs up to Rs 135 Cr
YourStory
·
1y ago
Medial
U GRO Capital, a small business lending platform, has approved the issuance of up to 3,500 non-convertible debentures (NCDs) valued at Rs 1 lakh each. Additionally, the company has approved the issuance of up to 10,000 NCDs, valued at Rs 1 lakh each, aggregating to Rs 100 crore. The board has also approved the acquisition of financial services platform MyShubhLife for Rs 45 crore. U GRO Capital plans to use technology to provide innovative credit products to small-scale shopkeepers and distributors. The company also plans to raise Rs 1,332 crore in equity capital.
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Microlender Aye Finance preps for IPO, to file draft papers by end October
Livemint
·
1y ago
Medial
Microlender Aye Finance is planning to go public in FY26. The company, which has served over 900,000 micro enterprises and disbursed loans worth ₹10,000 crore, aims to file draft papers with the Securities and Exchange Board of India by late October or early November. Aye Finance focuses on lending to small and micro enterprises and is considering a pre-IPO fundraise. The company's revenue from operations increased 44.5% to ₹623 crore in FY23, while profit reached ₹54 crore. Aye Finance ended FY24 with an assets under management worth ₹4,500 crore, up 66% from the previous year.
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slice to rebrand as Small Finance Bank, plans fundraise for expansion
YourStory
·
6m ago
Medial
Fintech startup slice will merge with North East Small Finance Bank (NESFB) to form slice Small Finance Bank Limited (slice SFB), India’s first fintech bank, with partial regulatory approval, including an RBI NOC. The merger aims for nationwide expansion, offering varied financial products. Post-merger, the bank's net worth rose to Rs 912.58 crore with improved financial ratios. Slice SFB plans to raise $250-300 million, expanding its customer base and workforce significantly.
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Zomato board approves renaming company to ‘Eternal’
Entrackr
·
6m ago
Medial
Zomato board approves renaming company to ‘Eternal’ Food tech major Zomato has received board approval to change its legal name from ‘Zomato Ltd’ to ‘Eternal Ltd.’ On February 6th, Zomato’s board approved a resolution to rename the company from ‘Zomato Limited’ to ‘Eternal Limited,’ according to a regulatory filing sourced from the National Stock Exchange. “When we acquired Blinkit, we started using “Eternal” (instead of Zomato) internally to distinguish between the company and the brand/app. We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there. We would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd,” said Deepinder Goyal, founder and CEO of Zomato. Goyal added that the company’s corporate website will transition from zomato.com to eternal.com. Additionally, its stock ticker will change from ZOMATO to ETERNAL. As of now, Eternal will comprise four major businesses: Zomato, Blinkit, District, and Hyperpure. The development comes weeks after Zomato’s quarterly results and a couple of months after its $1 billion fundraise via QIP. The Gurugram-based company’s revenue from operations surged 64.4% to Rs 5,405 crore in Q3 FY25, compared to Rs 3,288 crore in Q3 FY24. However, its profit took a hit, slipping 57.2% YoY to Rs 59 crore during the period. Meanwhile, the company re-entered the 10–15 minute food delivery space and invested Rs 500 crore in its quick commerce subsidiary, Blinkit. Zomato also made history as the first new-age Indian tech company to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in India’s benchmark index of the top 30 companies.
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ICICI Bank sells 18.8% stake in NIIT Institute of Finance Banking
Economic Times
·
1m ago
Medial
ICICI Bank sold its entire 18.8% stake in NIIT Institute of Finance Banking and Insurance Training Ltd for Rs 6.1 crore to NIIT Ltd, ceasing its status as an associate of the bank. Following this transaction, and the acquisition of an additional 0.49% stake from individual shareholders, NIIT Ltd now wholly owns NIIT-IFBI. This sale was approved by ICICI Bank's board in April 2025, making IFBI a wholly owned subsidiary of NIIT.
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RBL Bank, Bandhan Bank, AU SFB, IndusInd Bank shares gain up to 8%; here's why
Business Today
·
5m ago
Medial
Shares of Bandhan Bank surged 8.27% to Rs 146.50, leading gains among banks. The increase in stock value reflects positive investor sentiment or potentially favorable developments related to the bank. Other notable banks like RBL Bank, AU Small Finance Bank, and IndusInd Bank also experienced gains, contributing to an overall rise in the banking sector. These upward trends may derive from sector-specific factors, financial results, or economic conditions influencing banks' performance.
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