Federal Bank on Tuesday announced that the Credit, Investment and Raising Capital Committee of the board of directors of the Bank (“Committee”) has, at its meeting held on July 25, 2023, approved the allotment of 230,477,634 equity shares of face value ₹2 each to eligible qualified institutional buyers at the Issue price of ₹131.90 per equity share (including a premium of ₹129.90 per equity share) and reflecting a discount of ₹ 0.69 (i.e. 0.52%) on the floor price of ₹132.59, aggregating to ₹30,399,999,924.60, pursuant to the Issue in accordance with provisions of SEBI ICDR Regulations, the company announced through an exchange filing.
With this allotment, the paid-up equity share capital of the Bank stands increased from ₹ 4,23,63,28,436 crore, comprising of 2,11,81,64,218 equity shares to ₹4,697,283,704 crore, comprising of 2,348,641,852 Equity Shares.
Federal Bank shares
The shares of Federal Bank on Tuesday at 11:57 am IST were at ₹132.55, down by 1.05 percent.