Federal Bank acquires 26% stake in Equirus Capital
The association can also aid Federal Bank in offering a host of products including wealth management services to HNI and the NRI diaspora
Federal Bank's board has approved acquiring a strategic minority stake of 26% in Equirus Capital, subject to statutory and regulatory approvals and satisfactory completion of financial and legal due diligence, according to a report.
The Investment rationale has been driven by the need to increase the product offerings to a spectrum of wholesale clients by offering comprehensive financial solutions for debt & equity capital markets, structured finance, capital market products and advisory, an India Infoline report said.
The association can also aid Federal Bank in offering a host of products including wealth management services to HNI and the NRI diaspora.
The strategic tie-up would help shore up non-interest earnings for the Bank while creating additional revenue streams with identified clients.
Commenting on the investment, Ganesh Sankaran, Executive Director, Federal Bank said, “This partnership will serve as a natural complement to our strong origination capabilities and deep client relationships in addition to positioning us as a Universal Financial Services Provider.”
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