Federal Bank’s arm gets nod to allot 17.40% stake to True North
Federal Bank’s subsidiary company — Fedbank Financial Services (Fedfina) — has received an approval for allotment of 40,042,500 equity shares, with face value of Rs 10 each, corresponding to 17.40% of the share capital of Fedfina, to ‘True North Fund VI LLP’ on preferential basis for a total consideration of Rs 1,686,000,000. The Board of Fedbank Financial Services at its meeting held on November 13, 2018, 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.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.