AU Small Finance Bank Limited has informed the Exchange regarding Appointment of Mr Jagajit Mangal Prasad as Non- Executive Independent Director of the company w.e.f. July 01, 2025.
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AU Small Finance Bank's board has appointed Mr. Jagajit Mangal Prasad as a Non-Executive Independent Director for a 3-year term starting July 1, 2025, subject to shareholder approval. Mr. Prasad is a veteran HR leader with over 30 years of experience, including senior roles at ING Vysya Bank and Kotak Mahindra Life Insurance. The board also approved the annual renewal of fund raising limits: up to Rs. 5,000 crore via equity shares (QIP/private placement/preferential) and up to Rs. 6,000 crore via debt instruments such as bonds and NCDs, both subject to shareholder approval. M/s. Mehta & Mehta has been appointed as Secretarial Auditor for 5 years (FY 2025-26 to FY 2029-30). The record date for the final dividend has been set as July 4, 2025, and the 30th AGM will be held on August 8, 2025 via video conferencing.
The new independent director strengthens the board with deep banking and HR expertise. The Rs. 5,000 crore equity fund raising limit could lead to share dilution if utilised, while the Rs. 6,000 crore debt limit supports business growth — shareholders should watch for actual usage. Investors holding shares by July 4, 2025 will be eligible for the final dividend, if approved at the AGM.