The Reserve Bank of India has today notified that M/s AU Small Finance Bank Ltd. (earlier known as M/s AU Financiers (India) Ltd.) is in the process of listing its equity shares by way of an Initial Public Offering (IPO). Reserve Bank has further notified as follows: -
The company has passed the necessary resolutions at the Board of Director’s level and also of special resolution by its General Body for increasing the Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme up to 49% of the paid up capital of the company. -
The total foreign investment from all sources i.e. Global Depository Receipts (GDRs)/American Depository Receipt (ADR)/ Foreign Direct Investment (FDI)/ Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs)/ Non Resident Indian (NRI)/Persons of Indian Origin (PIO) in the company shall not exceed 49% under Portfolio Investment Scheme(PIS). -
The total foreign shareholding through all sources i.e- GDR/ADR/FDI/FIIs/FPIs/NRIs/PIOs in the company has reached the trigger limit, hence purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India. The Reserve Bank has notified this under Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000. Ajit Prasad
Assistant Adviser Press Release : 2016-2017/3488 | |