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Federal Bank fixes floor price of Rs 132.59 per equity share for QIP

Private sector lender Federal Bank on Wednesday said the board has a fixed floor price of Rs 132.59 per equity share for its proposed Qualified Institutional Placement (QIP)

Banks credit growth

Press Trust of India New Delhi

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Private sector lender Federal Bank on Wednesday said the board has a fixed floor price of Rs 132.59 per equity share for its proposed Qualified Institutional Placement (QIP).

Pursuant to regulation, the bank may at its discretion offer a discount of not more than 5 per cent on the floor price calculated for the issue, Federal Bank said in a regulatory filing.

The bank had posted a 42 per cent rise in net profit at Rs 1,147 crore for the June quarter as against Rs 807 crore in the year-ago period.

Total income in the first quarter of the current fiscal rose to Rs 5,757 crore from Rs 4,081 crore in the same period a year ago.

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jul 19 2023 | 10:44 PM IST

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