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Federal Bank informs about outcome of board meeting

21 Jul 2023 Evaluate
Pursuant to Regulation 30, 42 and other applicable Regulations of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 (the Listing Regulations), Federal Bank has informed that at the meeting of the Board of Directors (the Board) of the Bank held on Friday, July 21, 2023, has taken following decisions: Subject to the approval of the shareholders of the Bank and such other regulatory/ governmental approvals as may be required, the Board has approved issuance of up to 7,26,82,048 equity shares of face value of Re 2 each (Equity Shares) to International Finance Corporation (IFC), IFC Financial Institutions Growth Fund, LP (FIG) (directly and/or through its affiliates) and IFC Emerging Asia Fund, LP (EAF) (directly and/or through its affiliates) in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2015 (the ICDR Regulations), at a price of Rs 131.91 per equity share aggregating to an amount of Rs 958,74,88,951.68 on a preferential basis in accordance with Chapter V of the ICDR Regulations and other applicable laws (the Preferential Allotment). The details regarding the issuance of securities as required pursuant to SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11,2023, are set out in Annexure I to this intimation. The parties will be entering into a definitive agreement in this regard, in connection with the Preferential Allotment; Approved the convening of the 92nd Annual General Meeting (AGM) of the Bank on Friday, August 18, 2023 at 11 am by way of Video Conference (VC) or Other Audio-Visual Means (OVAM) in order to seek the approval of the shareholders pertaining to items specified in the AGM Notice; etc.

The above information is a part of company’s filings submitted to BSE.

Federal Bank Share Price

293.10 0.55 (0.19%)
06-May-2026 16:59 View Price Chart
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