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The target of the rights concern is to infuse regulatory capital within the agency, and that is greater than 5% of the post-issue paid-up capital of FFSL, financial institution sources mentioned.
Federal Financial institution mentioned in a regulatory submitting on Tuesday that its board has accredited an funding of Rs 148 crore in Fedbank Monetary Companies (FFSL), a subsidiary, via a rights concern.
FFSL is a non-deposit taking systemically essential NBFC, which acquired the Reserve Financial institution of India’s licence in 2010. It was integrated on April 17, 1995. Federal Financial institution holds 74% stake within the NBFC, which had a turnover of Rs 697.22 crore in 2020-21.
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The target of the rights concern is to infuse regulatory capital within the agency, and that is greater than 5% of the post-issue paid-up capital of FFSL, financial institution sources mentioned.
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