The Company was originally incorporated as ‘L.N. Finco Gems Private Limited’ on January 10 1996 as a private limited company under the Companies Act 1956 with the RoC. Pursuant to the change of name of the Company to Au Financiers (India) Private Limited to reflect the diversified finance business of the Company a fresh certificate of incorporation was issued by the RoC on May 24 2005. the Company was converted into a public limited company by way of a special resolution passed by the Shareholders at the EGM held on January 10 2013 and the name of the Company was changed to ‘Au Financiers (India) Limited’. A fresh certificate of incorporation consequent upon conversion to a public limited company was issued by the RoC on January 11 2013. the Company was granted the in-principle approval to establish an SFB by the RBI pursuant to its letter dated October 7 2015. Subsequently the RBI granted the Company the final approval to establish an SFB by its letter dated December 20 2016. Pursuant to the Company being established as an SFB the name of the Company was changed to ‘AU Small Finance Bank Limited’ and a fresh certificate of incorporation was issued by the RoC on April 13 2017.Major events and milestonesThe table sets forth some of the major events in the history of the Company:1996-Incorporated as a private limited company in Rajasthan with an authorised share capital of Rs 0.1 million.2000-Received certificate of registration under section 45 I A of RBI Act from the RBI to carry on the business of non-banking financial institution without accepting public deposits.2005-Became commercial associate of HDFC Bank for carrying on the business of financing commercial vehicles.2006-Expanded operations into Maharashtra.2008-Obtained investment of ? 200 million from India Business Excellence Fund and India Business Excellence Fund-1.2009-Forayed into Gujarat the third state where the Company commenced its operations.2010-Received fresh certificate of registration under section 45 IA of RBI Act from the RBI pursuant to which RBI has classified the Company as a NBFC-ND-AFC.-Obtained investment of ? 350 million ? 60 million and ? 140 million from IFC IBE Fund and IBE Fund -I respectively.-Attained the status of “Systemically Important Non-Deposit Taking Asset Finance Company”.2011-Set-up a subsidiary AuHFL to provide housing finance services.2012-Obtained investment of ? 1500 million and ? 330.44 million from Redwood and IFC respectively.-Received upgrade of credit rating from CRISIL BBB+ / Stable to CRISIL A / Stable for long term bank facilities by CRISIL Ratings-Set-up a subsidiary Au Insurance Broking Services Private Limited to provide insurance and broking services.2015-Received upgrade of credit rating to CARE A+ for long-term banking facilities by CARE Ratings.-Assigned a credit rating of Ind A+ / Stable for long term banking facilities and NCDs by India Ratings.-Received “in-principle” approval for forming an SFB from the RBI.2016-Received final approval for carrying on the business of SFB from the RBI.-Received a long term credit rating of BWRAA with Stable Outlook from Brickwork Ratings.-Received upgrade in long-term rating of CRISIL A/ Watch Positive by CRISIL Ratings.-Pursuant to RBI approval dated April 6 2016 divested its shareholding in AuHFL which was the erstwhile subsidiary company.-Pursuant to RBI approval dated May 18 2016 divested its entire shareholding in IML (2)-Pursuant to RBI approval dated September 6 2016 divested 29.53% of the total shareholding of M Power Micro Finance Private Limited.-Divested its entire shareholding in Au Insurance Broking Services Private Limited (“AuIBSPL”) the erstwhile associate company. In this regard the Company has received an in-principle approval dated December 6 2016 from the IRDAI for change in shareholding pattern of AuIBSPL.2017-Commenced operations as an SFB and the same was notified via RBI press release dated April 19 2017-Received upgrade of credit rating outlook from Ind A+ / Stable to IND A + / POSITIVE for long term banking facilities and NCDs by India RatingsAwards and AccreditationsWe have received the following awards and accreditations:2011-Shortlisted for the Financial Times International Finance Corporation-Sustainable Finance Awards in the “Achievement in the Financing at the Base of the Pyramid” category.2012-Awarded the “Best PE-backed Financial Service Company” by VCCircle.2017-Adjudged runner-up in “Best Retail NBFC” category by Outlook Money Awards 2016.
Name | Position |
---|---|
Mr. H R Khan | Chairman & Ind.Director |
Mr. Sanjay Agarwal | Managing Director & CEO |
Mr. Uttam Tibrewal | Whole Time Director |
Prof. Mankal Shankar Sriram | Independent Director |
Mr. Divya Sehgal | Non Exe.Non Ind.Director |