The Federal Bank Ltd to raise Rs. 1000 crores

The Federal Bank Ltd at its meeting held on March 18,2023, has approved the issuance of Unsecured Basel III compliant Tier-II Subordinate Bonds in the nature of Debentures, for face value, amounting up to Rs. 1000,00,00,000/- (Rupees One Thousand Crores only) on a private placement basis to certain eligible investors permitted to invest in the NCDs under applicable laws.

Shares of The Federal Bank Limited was last trading in BSE at Rs. 128.40 as compared to the previous close of Rs. 127.30. The total number of shares traded during the day was 329518 in over 5658 trades.

The stock hit an intraday high of Rs. 129.00 and intraday low of 127.30. The net turnover during the day was Rs. 42310160.00.

Source : Equity Bulls

Keywords

TheFederalBank INE171A01029 FundRaising Debentures INR1000Crores PrivatePlacement