FPIs can now invest in AU Small Finance Bank
DSIJ Intelligence / 30 Jun 2017
The Reserve Bank of India said on Thursday that since foreign investment in AU Small Finance Bank has fallen below the cap of 49 per cent of the paid-up capital, FIIs or FPIs can now invest in the bank.
AU Small Finance Bank IPO, which is making headlines for overwhelming investors response, can now receive funds from foreign investors.
The Reserve Bank of India said on Thursday that since foreign investment in AU Small Finance Bank has fallen below the cap of 49 per cent of the paid-up capital, FIIs or FPIs can now invest in the bank.
Previously, the central bank had notified that a 49 percent cap on investment by foreign investors and non-resident Indians have already been hit.
Due to the investment cap already hit by foreign investors, FIIs could but shares of the bank only with the prior approval of RBI.
Jaipur-based AU Small Finance Bank Ltd’s IPO opened for subscription on Wednesday. The issue closes on Friday. The issue has been already subscribed by 1.36 times.
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