 "Federal Bank fixes floor price of Rs 132.59 per equity share for QIP")
Private sector lender Federal Bank on Wednesday said the board has a fixed floor price of Rs 132.59 per equity share for its proposed Qualified Institutional Placement (QIP).
Pursuant to regulation, the bank may at its discretion offer a discount of not more than 5 per cent on the floor price calculated for the issue, Federal Bank said in a regulatory filing.
The bank had posted a 42 per cent rise in net profit at Rs 1,147 crore for the June quarter as against Rs 807 crore in the year-ago period.
Total income in the first quarter of the current fiscal rose to Rs 5,757 crore from Rs 4,081 crore in the same period a year ago.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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