Federal Bank’s board has decided to raise funds by way of issuance of equity capital up to an aggregate amount of Rs 4,000 crore or its equivalent amount in foreign currencies in one or more tranches through various modes including rights issue, private placement, qualified institutions placement, preferential issue or follow on public offer, GDR, ADR or foreign currency convertible bonds.
Also, the board accorded its approval to raise up to Rs 8,000 crore by issuing debt instruments through various modes including additional tier 1 bonds, tier 2 bonds, long term bonds, masala bonds, green bonds, NCDs. The fund raise approval decisions by the board of the bank are subject to approval of shareholders of the bank in its forthcoming annual general meeting (AGM).
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.
