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Federal Bank raises Rs 700 crore by issue of Debentures

20 Jan 2022 Evaluate

Federal Bank has raised Rs 700 crore by issue of Debentures. The bank has allotted 500 Debentures of Rs 1 crore to LIC of India, 75 Debentures of Rs 1 crore to Star Health and Allied Insurance Company, 100 Debentures of Rs 1 crore to Nippon India Short Term Fund and 25 Debentures of Rs 1 crore to Nippon India Equity Hybrid Fund on private placement basis.

The Credit, Investment and Raising Capital Committee constituted by Board of Directors of the Bank vide resolution passed on January 20, 2022 inter-alia approved the allotment of Unsecured Basel III compliant Tier-II Subordinate Bonds in the nature of Debentures.

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.

Peers
Company Name CMP
HDFC Bank 692.60
ICICI Bank 1354.00
Axis Bank 1247.00
Kotak Mahindra Bank 438.70
Indusind Bank 865.40
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