AU Small Finance Financial institution Restricted (AU SFB), in an alternate submitting, introduced on Thursday, February 13 that the Reserve Financial institution of India (RBI) has authorized Temasek’s Zulia Investments to amass as much as 7 % stake within the firm.
“We hereby inform that AU Small Finance Financial institution Restricted (“AU SFB”) has obtained a replica of letter of the Reserve Financial institution of India (“RBI”) dated February 12, 2025 addressed to Zulia Investments Pte. Ltd., an oblique wholly owned subsidiary of Temasek Holdings (Personal) Restricted that it has accorded its approval to the Zulia Investments Pte. Ltd. (together with its individuals performing in live performance and affiliate enterprises) to amass ‘combination holding’ of as much as 7 % of the paid-up share capital or voting rights within the AU SFB inside one yr from the date of RBI approval letter, failing which RBI approval shall stand cancelled,” the corporate knowledgeable.
It additional famous that the approval is topic to compliance with the related provisions of the Banking Regulation Act, 1949, RBI’s Grasp Path and Tips on Acquisition and Holding of Shares or Voting Rights in Banking Firms dated January 16, 2023 (as amended), the International Alternate Administration Act, 1999, laws issued by the Securities and Alternate Board of India, and every other relevant statutes, laws, and tips.
