Indian private sector lender Federal Bank Ltd has launched a share sale to raise Rs 2,000 crore, with an option to increase the amount by Rs 500 crore, according to a deal term sheet. Federal Bank said in a regulatory filing on Wednesday that it had launched a so-called qualified institutions placement of shares but did not give details. The bank is selling new shares in a price range of Rs 111.50 to Rs 116.70, equivalent to a 4.5 per cent discount to the stock's close on Wednesday at the bottom of the range. Citi, Deutsche Bank, IIFL Holdings and Kotak Mahindra ...
Federal Bank launches Rs 2000 cr share sale to institutions
Citi, Deutsche Bank, IIFL Holdings and Kotak Mahindra Capital are the banks on the deal