Federal Bank has allotted 215,517,241 equity shares to eligible QIBs at an issue price of Rs 116 per equity share aggregating Rs 2500 crore. Post this allotment, the paid up equity share capital of the Bank has increased to Rs 3,884,577,244 comprising 1,942,288,622 equity shares.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.