Federal Bank To Raise Funds Worth Rs 4000 Crore Through Debt Securities

Federal Bank on Wednesday informed the bourses that the board of directors at its meeting held on June 7, 2017, approved raising of funds by way of issue of debt securities up to Rs 4000 crore in one or more tranches.

The bank will seek shareholders’ approval at the forthcoming annual general meeting.

Federal Bank was up by 0.2% at Rs 112.95 per share at 14:23 hours IST on BSE. It touched a high of Rs 114.20 and a low of Rs 112.10.

The stock has delivered almost 99% returns over a year’s time. It has outperformed both BSE mid-cap & BSE Bankex over the same period.

The Federal Bank Limited operates through four segments: Treasury, Corporate or Wholesale Banking, Retail Banking and other banking operations.

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