History & Milestones
- Incorporated as a private limited company in Rajasthan with an authorised share capital of ₹ 0.1 million.
- 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.
- Became commercial associate of HDFC Bank for carrying on the business of financing commercial vehicles.
- Expanded operations into Maharashtra.
- Obtained investment of ₹ 200 million from India Business Excellence Fund and India Business Excellence Fund-1.
- Forayed into Gujarat, the third state where our Company commenced its operations.
- Received fresh certificate of registration under section 45 IA of RBI Act from the RBI pursuant to which RBI has classified our 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”.
- Set-up a subsidiary, Au Housing Finance Private Limited, to provide housing finance services.
- Obtained investment of ₹ 1,500 million and ₹ 330.44 million from Redwood and IFC, respectively.
- Set-up a subsidiary, Au Insurance Broking Services Private Limited, to provide insurance and broking services.
- Two notches upgrade of credit rating to CRISIL A / Stable for long term credit facilities.
- Assigned credit rating of IND A+ / Stable for long-term credit facilities and IND A1+ for short term credit facilities.
- Received “in-principle” approval for forming an SFB from the RBI.
- Received final approval for carrying on the business of SFB from the RBI.
- Upgrade of long term credit rating toof BWRAA withwith Stable Outlook from Brickwork Ratings.
- Pursuant to RBI approval dated April 6, 2016, divested its shareholding in Au Housing Finance Limited which was our erstwhile subsidiary company.