Federal Bank Board To Consider Equity, Bond Fundraising On Monday

Federal Bank on Wednesday said its board will meet on Monday to consider raising equity capital through various modes including a rights issue, private placement, preferential issue, follow-on public offer, qualified institutional placement, global depository receipts, American depository receipts, or foreign currency convertible bonds.

The board may also evaluate options to raise funds via additional tier 1 bonds, tier 2 bonds, infrastructure bonds, masala bonds, or other debt instruments permitted by the Reserve Bank of India, the bank said in an exchange filing.