Federal Bank To Raise Up to ₹60 Billion Through Bonds, Equity Routes

Federal Bank Ltd. said its board has approved raising up to ₹60 billion through bonds in both rupee and foreign currencies, via domestic or overseas markets. 

The instruments include additional tier I and II bonds, infrastructure bonds, and green bonds. 

The board also cleared plans for raising equity through routes such as rights issues, qualified institutional placements, global or American depository receipts. 

Additionally, the board reappointed Varsha Vasant Purandare as independent director for a second term of three years starting Sept. 8.