Singapore state-owned investment firm Temasek has purchased a 4.8% stake in India-based AU Small Finance Bank in a transaction valued at INR10bn ($147m).

The investment was carried out through Camas Investments, a wholly-owned subsidiary of Temasek, via a preferential allotment of shares and convertible warrants.

The latest capital raise is said to be the largest primary capital infusion in AU Bank following the bank first ever capital raise in fiscal 2012.

The lender’s INR19.13bn ($281.05m) IPO last year was a complete offer-for-sale without any capital infusion in the bank.

Besides Temasek, private equity investors such as IFC, Warburg Pincus, ChrysCapital and Kedaara Capital have also invested in AU Bank.

AU Bank managing director and CEO Sanjay Agarwal said: “This capital raise will strengthen our presence in both the digital and the physical marketplace.”

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Founded as vehicle finance company Au Financiers Ltd in 1996, AU Small Finance Bank was converted to a small finance bank in April 2017.