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Federal Bank rises on getting nod to raise funds via various means

The Federal Bank is currently trading at Rs. 106.65, up by 1.50 points or 1.43% from its previous closing of Rs. 105.15 on the BSE.

The scrip opened at Rs. 105.00 and has touched a high and low of Rs. 106.70 and Rs. 104.50 respectively. So far 307470 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 109.60 on 04-Jun-2019 and a 52 week low of Rs. 67.05 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 108.00 and Rs. 104.15 respectively. The current market cap of the company is Rs. 21000.28 crore.

The Institutions and Non-Institutions held 66.97% and 33.03% stake respectively in the company.

Federal Bank has received approval for fund raising by way of issuance of debt securities including but not limited to Non-Convertible Debentures (NCDs), Tier II bonds, Long Term Bonds (Infrastructure & Affordable Housing), Masala Bonds, Green bonds or such other debt securities as may be permitted by RBI from time to time, in Indian Currency, in domestic market and / or overseas market. The Board of Directors of the Bank at its meeting held on June 13, 2019 has approved the same.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.

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