Federal Bank Limited informed that the Credit, Investment and Raising Capital Committee constituted by Board of Directors of the Bank, at its meeting held on March 29, 2023, inter-alia approved the allotment of unsecure Basel III compliant Tier-II subordinate bonds in the nature of debentures via an exchange filing.
The Bank has raised Rs 995,00,00,000 by issue of debentures and allotted 995 debentures of Rs. 1,00,00,000 to LIC of India, on private placement basis.
The issue is in accordance with the provisions of Regulation 30 of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
