In continuation of earlier intimation dated 08th October, 2018; Federal Bank has informed that the Board of Fedbank Financial Services (‘Fedfina’), subsidiary company of the Bank, had in its meeting dated 13th November 2018 approved allotment of 40,042,500 equity shares, with face value of Rs 10 each, corresponding to 17.40% of the share capital of Fedfina, to ‘True North Fund VI LLP’ on preferential basis for a total consideration of Rs 1,686,000,000.
The above information is a part of company’s filings submitted to BSE.
