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Corporate News
19-Jul-23
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Board of Federal Bank to consider preferential issue of up to 7.26 cr equity shares
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On 21 July 2023
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The Board of Federal Bank will meet on 21 July 2023 to consider the proposal of issuance of equity shares by way of a preferential allotment to International Finance Corporation (IFC), IFC Financial Institutions Growth Fund, LP (FIG), and IFC Emerging Asia Fund, LP (EAF) (collectively, IFC, FIG and EAF referred to as Investors) for subscribing up to 7,26,82,048 equity shares of the Bank at a price not exceeding Rs 131.91 per equity share. Upon consummation of the Transaction, the Investors shall in aggregate hold up to 17,75,28,442 equity shares of the Bank.
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