Corporate News     21-Jul-23
Board of Federal Bank approves raising Rs 958.74 cr via preferential allotment of shares
At meeting held on 21 July 2023
The Board of Federal Bank at its meeting held on 21 July 2023 has approved the issuance of up to 7,26,82,048 equity shares of face value of Re. 2/- each to International Finance Corporation (IFC), IFC Financial Institutions Growth Fund, LP (FIG) (directly and/or through its affiliates) and IFC Emerging Asia Fund, LP (EAF) (directly and/or through its affiliates) at a price of Rs. 131.91 per equity share aggregating to an amount of Rs. 958,74,88,951.68 on a preferential basis.
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