Cyril Amarchand Mangaldas Advised Federal Bank on Qualified Institutions Placement of Equity shares
Cyril Amarchand Mangaldas Advised Federal Bank on Qualified Institutions Placement of Equity shares
Cyril Amarchand Mangaldas acted as the legal counsel to The Federal Bank Limited (Federal Bank) on its qualified institutions placement (QIP) of equity shares.
The transaction involved an issuance of 230,477,634 equity shares of face value of Rs. 2 each at a price of Rs. 131.90 per equity share, including a premium of Rs. 129.90 per equity share, aggregating to approximately Rs. 304 crores. The equity shares are listed on National Stock Exchange of India Limited and BSE Limited.
The Capital Markets Practice of Cyril Amarchand Mangaldas advised Federal Bank on the transaction.
The transaction team was led by Reuben Chacko, Partner & Regional Co-head Markets Practice (Southern Region); with support from Satakshi Sharma, Senior Associate- Designate; Neha Sahgal, Associate, Vartika Bhatnagar, Associate, Priyanka Khetwal, Associate and Aarushi Jain, Associate.
Other Parties to the transaction included White & Case Pte Ltd (acted as international legal counsel to the Book Running Lead Managers).
The Transaction was signed on 26th May, 2023 and closed on 24th July, 2023.
