In today’s briefing:
- Federal Bank QIP – Well Flagged Deal but the Last One Didn’t Do Well
Federal Bank QIP – Well Flagged Deal but the Last One Didn’t Do Well
- Federal Bank (FB IN) aims to raise around US$370m via a QIP to increase its Tier-1 capital.
- The deal is well flagged as the company had earlier obtained board approval for a fundraising and had guided towards a funding raising in FY24.
- In this note, we talk about the deal dynamics and run the deal through our ECM framework.
💡 Before it’s here, it’s on Smartkarma
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