Federal Bank is planning to raise equity capital of the bank either through rights issue, private placement, Preferential Issue, Further Public Offer ( FPO), Qualified Institutional Placement ( QIP), Global Depository Receipts (GDR), American Depository Receipts (ADR), Foreign Currency Convertible Bonds (FCCB) or through any other permissible mode or a combination thereof, and also for determination of issuance amount, as may be appropriate, subject to shareholders approval as applicable and regulatory, statutory approvals and requirements.
The company is also planning to raise funds in Indian Currency or any other permitted foreign currency by way of issue debt instruments including but not limited to Additional Tier I bonds (AT1 bonds), Tier II bonds, Long Term Bonds (Infrastructure & Affordable Housing), Masala Bonds, Green bonds, non-convertible debentures or such other debt securities as may be permitted by RBI from time to time, in domestic market and/or overseas market, on a private placement basis within the overall borrowing limits of the Bank subject to shareholders approval as applicable and regulatory, statutory approvals and requirements.
The meeting of the Board of Directors of the Bank is scheduled to be held on June 30, 2022, to consider the same. The Board would also consider convening a general meeting to seek approval of the shareholders in respect of the aforesaid proposals for fund raising.
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.
| Company Name | CMP |
|---|---|
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| ICICI Bank | 1264.80 |
| Axis Bank | 1269.40 |
| Kotak Mahindra Bank | 380.75 |
| Indusind Bank | 949.85 |
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