Federal Bank to issue NCDs worth Rs 1,000 cr

Federal Bank to issue NCDs worth Rs 1,000 cr

The proposed NCDs would be listed on the NSE.

FPJ Web DeskUpdated: Saturday, March 18, 2023, 05:25 PM IST
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Federal Bank to issue NCDs worth Rs 1,000 cr | Image: Federal Bank (Representative)

Federal Bank's Board of Directors on Saturday apporved the issuance of Unsecured Basel III compliant Tier-II Subordinate Bonds in the nature of Debentures worth Rs 1,000 crores on a private placement basis to certain eligible investors, the company announced through an exchange filing.

The proposed NCDs would be listed on the NSE. The tenure, interest and payment details would be revealed later during the allotment.

Federal Bank on February 27 allotted 78,191 shares for the exercise of stock options by eligible grantees.

Federal Bank shares

The shares of Federal Bank on Friday closed at Rs 128.50, up by 0.94 per cent.

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