Federal Bank has received approval to raise funds by way of issuance of equity capital upto an aggregate amount of Rs 4000 crore or its equivalent amount in such foreign currencies inclusive of any premium, in one or more tranches, on such terms and conditions as it may deem fit by way of any mode i.e., either through Rights Issue, Private Placement, Qualified Institutions Placement (QIP), Preferential Issue, Further Public Offer/ (FPO),Global Depository Receipts (GDR), American Depository Receipts (ADR), Foreign Currency Convertible Bonds (FCCB) or through any other permissible mode or a combination thereof, as may be considered appropriate, subject to applicable regulatory/ statutory approvals and requirements.
The meeting of Board of directors of the company held on June 19, 2020 approved the same.
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
