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Corporate News
21-Jul-23
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Board of Federal Bank approves raising Rs 958.74 cr via preferential allotment of shares
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At meeting held on 21 July 2023
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The Board of Federal Bank at its meeting held on 21 July 2023 has approved the issuance of up to 7,26,82,048 equity shares of face value of Re. 2/- each 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) 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.
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