Federal Bank, South Indian Bank shares plunge up to 5% on RBI action
Federal Bank informed exchanges that it is in the process of rectifying areas that are deficient and will seek regulatory clearance prior to the resumption of new issuance.
Federal Bank informed exchanges that it is in the process of rectifying areas that are deficient and will seek regulatory clearance prior to the resumption of new issuance.
Private lender’s Q3 NII at ₹2,123 crore, an 8.53% YoY increase
The approval granted by the RBI is subject to the compliance with the relevant provisions of the Banking Regulation Act, 1949
Fedfina IPO to open on November 22; price band fixed at ₹133 to ₹140 per equity share
The ₹1,092 crore IPO of Fedbank Financial Services will open for subscription on November 22.
The company’s operating profit surged by 9.26% to ₹1,324.45 crore as against ₹1,212.24 crore in the same period last year.
The IPO of FedFina consists of a fresh issue of equity shares worth ₹750 crore and OFS of up to 7.03 crore shares by Federal Bank and True North Fund VI LLP.
Federal Bank’s gross NPA and net NPA came down to 2.36% and 0.69%, respectively, while the total advances increased by 20.14%
Reacting to Q3 earnings, Federal Bank shares gained as much as 1.9% to ₹142.85 intraday today.
Federal Bank shares gained 8.58% to hit a 52-week high of ₹129.7 on the BSE amid report that the private lender is in merger talks with Kotak Mahindra Bank.