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<keyword id="6356495" type="General" weightage="20" keywordseo="federal-bank" source="Orion">Federal Bank</keyword> subsidiary Fedbank Financial Services Ltd (FedFina) has initiated the process of an initial public offering (IPO), the bank said on Tuesday. The board of directors of the bank FedFina in a meeting on January 11, 2022, has approved initiating the process of an initial public offering (IPO) by way of fresh issue and offer for sale, Federal Bank said in a regulatory filing. The board approval is subject to market conditions and receipt of applicable approvals, including that of Sebi and other considerations, it said. "The size of the IPO, portion of an offer for sale (if any), price and other details with respect to the proposed IPO by FedFina will be determined in due course. "Post the undertaking of the proposed IPO, FedFina would continue to be a subsidiary of our bank, '' the lender said. As of January 12, 2022, shares of Federal Bank were at Rs 98.45 apiece on BSE, up by 2 per cent from its previous close. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-stock-has-gained-51-in-the-last-five-days-on-investors-new-found-love-for-electric-vehicles/articleshow/88841859.cms">This stock has gained 51% in the last five days on investors’ new-found love for electric vehicles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/dmarts-near-normal-performance-in-q3-fails-to-impress-analysts/articleshow/88837288.cms">DMart is focussing on being a cost-effective grocer, but the market wants it to be more than that</a>

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Federal Bank's subsidiary FedFina initiates process for an IPO

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