 "Federal Bank net profit up 18%")
Private lender Federal Bank will raise about Rs 916 crore in equity capital by issuing shares to International Finance Corporation ( IFC) and its affiliates to strengthen capital adequacy. The transaction is subject to regulatory approvals.
The Kochi-based bank will also seek shareholders' nod to raise upto Rs 4,000 crore in equity capital through routes like rights issue, follow in public offer. It will place a proposal to this effect at the Annual General Meeting
The Kochi-based bank will also seek shareholders' nod to raise upto Rs 4,000 crore in equity capital through routes like rights issue, follow in public offer. It will place a proposal to this effect at the Annual General Meeting
