The Federal Bank Limited board to consider proposal to raise Rs. 700 crores through Debentures

A meeting of the Board of Directors of The Federal Bank Limited is scheduled to be held on Wednesday, January 12, 2022, at Federal Towers, Head Office, Aluva through Video Conference (VC) to consider and approve, the proposal to raise funds by way of issue of Unsecured Basel III Tier-II Subordinate Bonds in the nature of Debentures, amounting up to Rs. 700,00,00,000/- (Rupees Seven Hundred Crores only) on a private placement basis.

Shares of The Federal Bank Limited was last trading in BSE at Rs. 91.35 as compared to the previous close of Rs. 90.05. The total number of shares traded during the day was 3308603 in over 11502 trades.

The stock hit an intraday high of Rs. 91.90 and intraday low of 90.00. The net turnover during the day was Rs. 300705112.00.

Source : Equity Bulls

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TheFederalBank INE171A01029 FEDERALBNK FundRaising NCDs