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Federal Bank intimates sale of sales by MD & CEO to repay ESOP loans

Capital Market 

Federal Bank announced that Shyam Srinivasan, Managing Director and Chief Executive Officer of the Bank has sold 19,10,000 shares of the Bank on 24 March 2020 for Rs.7.50 crore to repay the outstanding principal and interest on the ESOP loans availed by him.

Earlier, Shyam Srinivasan had intimated the sale of 55,00,000 shares between 9 and 13 of March 2020, for approximately Rs 35.71 crore, also towards repayment of ESOP Loans..

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 25 2020. 13:32 IST