The Board of Fedbank Financial Services (FedFina) has revived its IPO plans on July 18, according to a report by CNBC-TV18. The FedFina IPO will be undertaken through fresh issues and an offer for sale (OFS).
In 2022, FedFin filed for IPO to raise a target of Rs 200 crore.
Also Read | Federal Bank Q1 Net Profit seen up 42.9% YoY to Rs. 858.1 cr: Nirmal Bang
Federal Bank on July 13 reported a net profit of Rs 854 crore for the April-June 2023 quarter, a jump from Rs 600 crore in the corresponding period last year.
Also Read | Federal Bank Q1 Results: Net profit jumps to Rs 854 crore, asset quality remains stable
The bank's gross non-performing asset (GNPA) also improved to 2.38 percent from 2.69 percent last year.
The lender's net NPA stood at 0.69 percent, improving from 0.94 percent in the corresponding quarter last year.
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