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The Board of Federal Bank at its meeting held on 23 July 2021 has approved the allotment of 10,48,46,394 equity shares of face value of Rs 2 each at issue price of Rs 87.39 per equity share to International Finance Corporation, IFC Financial Institutions Growth Fund and IFC Emerging Asia Fund.
With the allotment of the above shares, the paid-up equity share capital of the Bank stands increased from present level of 199,62,83,738 equity shares to 210,11,30,132 equity shares of Rs. 2/- each.
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