Fedbank Financial Services Targets $120 Million in India IPO
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Fedbank Financial Services plans to raise 9 billion rupees ($120 million) through the sale of new shares in an initial public offering in India, according to a draft prospectus.
The company’s parent, Federal Bank Ltd., will offer 16.5 million shares and investor True North Fund VI LLP will sell 29.2 million in the IPO, the filing said.