Au Financiers (India) Limited IPO
AU Small Finance Bank has recently transitioned from a prominent, retail focused non-banking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels. The company operates in three business lines: vehicle finance; micro, small and medium enterprises (MSMEs) loans; and small and medium enterprises (SMEs) loans. Prior to the conversion into the bank, the company was categorized as a “Systemically Important, Non-Deposit Accepting Asset Finance Company” (NBFC-ND-AFC) by the Reserve Bank of India.
The company received a license from the RBI to set up a ‘small finance bank’ (SFB) on December 20, 2016 and it is the only NBFC categorized as an asset finance company to obtain such license. Going forward, it intends to expand and strengthen its business model to offer a diverse suite of banking products and services by leveraging its asset-based lending strengths, existing customer base and cost efficient, technology driven hub-and-spoke branch operating model to create a successful new SFB. It believes that transitioning to an SFB offers it significant growth potential and it aims to be a retail focused, preferred trusted SFB offering integrated and tailored solutions to customers.
Key Timelines of Au Financiers:
1996 – Incorporated in Jaipur, Raj
2000 – Registered as an NBFC with the RBI
2005 – Became a commercial associate of HDFC Bank for originating and servicing vehicle loans
2007 – Started MSME loans
2011 – Started housing finance
2012 – Started SME loans
2016 – Received a license from the RBI to set up a ‘small finance bank’ (SFB).
As of December 31, 2016, company had 300 branches spread across 10 states and one union territory in India, with significant presence in the states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh and employed 6,092 personnel serving 270,692 active loan accounts.
Diversified Product Portfolio and Revenue Streams
Customer Centric Organizational Commitment
Significant Presence in Rural and Semi-Urban Markets with Focus on Low and Middle Income Customers
Robust and Comprehensive Credit Assessment and Risk Management Framework
Access to Diversified Sources of Funding over the Years
Listing Date: Jul 10 2017
|Open Date:||Jun 28 2017|
|Close Date:||Jun 30 2017|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Built Issue IPO|
|Issue Size:||1,912.51 Cr.|
|Lot Size:||41 Shares|
|Issue Price:||₹ 355-358 Per Equity Share|
|Listing Date:||Jul 10 2017|
Promoters And Management:
|Particulars||For the year/period ended (in Rs. Million)|
|Profit After Tax||8,427.13||2,471.54||1,394.50||725.40||693.58|