Federal Bank Ltd have in the Board Meeting held on October 26th 2007 have approved and announced the Finacial Results of the bank for the quarter ended September 30,2007 as well as the Board has approved the Rights Issue to the share holders of the company.
Federal Bank Board Committee has decided that the price for the Rights Issue is Rs. 250 per equity share including a premium of Rs. 240 per equity share on the face value of Rs 10 each equity shares.
Federal Bank Rights issue Ratio and the Record date of the issue is not yet announced, the counter was trading firm on the markets with high volumes.
Shares of the Federal Bank closed at Rs. 388.50 up 1.33% on the BSE as on Friday 26-10-2007.
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