AU Small Finance Bank Limited (AU SFB), in an exchange filing, announced on Thursday, February 13 that the Reserve Bank of India (RBI) has approved Temasek’s Zulia Investments to acquire up to 7 percent stake in the company.
“We hereby inform that AU Small Finance Bank Limited (“AU SFB”) has received a copy of letter of the Reserve Bank of India (“RBI”) dated February 12, 2025 addressed to Zulia Investments Pte. Ltd., an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited that it has accorded its approval to the Zulia Investments Pte. Ltd. (along with its persons acting in concert and associate enterprises) to acquire ‘aggregate holding’ of up to 7 percent of the paid-up share capital or voting rights in the AU SFB within one year from the date of RBI approval letter, failing which RBI approval shall stand cancelled,” the company informed.
It further noted that the approval is subject to compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended), the Foreign Exchange Management Act, 1999, regulations issued by the Securities and Exchange Board of India, and any other applicable statutes, regulations, and guidelines.
