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Federal Bank plans sell 26% stake in its non-banking arm

Federal Bank plans sell 26% stake in its non-banking arm

Thursday, April 13, 2017, 6:50 PM

Federal Bank is planning to sell an up to 26% stake in its non-bank finance unit, Fedbank Financial Services, to private equity firms to raise Rs 400-500 crore, two people with direct knowledge of the matter said. The Kerala-based private sector bank confirmed plans to raise funds for the unit, but didn’t reveal the details.
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