AU Small Finance Bank Limited (NSEI:AUBANK) board on 27 June 2024 approved a plan of raising up to INR 50 billion by selling equities and mobilising up to INR 60 billion in debts. The equity may be raised through private placement or qualified institutions placement (QIP) or preferential allotment or through a combination of these instruments, the bank said in a regulatory filing to stock exchanges. The borrowing can be done in one or more tranches, by issuing debt instruments such as bonds and non-convertible debentures, the bank said.

The board earlier recommended a dividend of INR 1 per equity share of face value of INR 10 for FY24, subject to shareholders approval. In another development, microfinance lender Satin Creditcare Network has decided to raise INR 0.50 billion through private placement of bonds by paying 10.5% per year payable monthly. The bonds will be issued on July 4 for 30 months, the lender said.