Federal Bank on Tuesday said it would raise Rs 12000 crore most of which would come from borrowing instruments.<\/p>\n
In a regulatory filing, the Bank said that its board of directors had given a nod on June 19 for the same. In all, Rs 8000 crore
\nwould be raised through debt instruments in Indian\/Foreign currency and another Rs 4000 crore through a mix of debt and issue of equity\u00a0shares.<\/p>\n
The Bank further said that it would take shareholders consent for the fund raising plans in its Annual General Meeting to be held on July 16\u00a0next month either through the medium of video conference or other audio visual means.<\/p>\n
As regards the funds raise issue, the Kerala-based bank said it could take place either by Rights issue, Private Placement, Preferential\u00a0Issue, further Public offer, Global Depository receipts, American Depository Receipts or through any other permissible mode or a\u00a0combination thereof.<\/p>\n
The Bank further said that its Board had also cleared a proposal\u00a0 for borrowing in Indian currency or equivalent foreign currency by way\u00a0of issue of Debt Instruments.<\/p>\n
The Bank said this including is not limited to additional tier 1 bonds (AT1 bonds), Tier 2 bonds, long term bonds (infrastructure and\u00a0affordable housing), masala bonds, green bonds, non-convertible debentures or such other debt securities as may be permitted by RBI\u00a0from time to time, upto Rs 8000 crore in domestic or overseas market.<\/p>\n
The debt may be issued by the Bank in one or more tranches on a private placement basis within the overall borrowing limits of the\u00a0Bank, the regulatory filing said.<\/p>\n
The Board of the Bank has also decided to amend the Memorandum of Association of the Bank for increase of Authorized Capital of the\u00a0Bank from Rs 500 crore comprising 250 crore equity shares of face value of Rs 2 each to Rs 800 crore comprising 400 crore equity shares\u00a0having a face value of Rs 2 face value.<\/p>\n
Federal Bank was trading at Rs 55.10 per share on BSE, up by 1.47 per cent from its previous close.<\/p>\n","protected":false},"excerpt":{"rendered":"
Federal Bank on Tuesday said it would raise Rs 12000 crore most of which would come from borrowing instruments. In a regulatory filing, the Bank said that its board of directors had given a nod on June 19 for the same. In all, Rs 8000 crore would be raised through debt instruments in Indian\/Foreign currency […]<\/p>\n","protected":false},"author":3,"featured_media":6303,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,8,5,31],"tags":[1342],"class_list":["post-6302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-politics","category-india-inc","category-markets","category-news","tag-federal-bank"],"aioseo_notices":[],"yoast_head":"\n