Federal Bank to acquire 26% stake in Mumbai-based investment bank Equirus Capital

Ajay Garg, managing director of Equirus Capital. Photo: Livemint

Kochi-based private lender Federal Bank Ltd on Thursday said in a stock exchange filing that it would acquire a 26% stake in Mumbai-based investment bank Equirus Capital Pvt. Ltd. Financial details of the transaction were not disclosed.

Equirus Capital said in a statement that the board of directors of Federal Bank had approved the acquisition of a minority 26% stake in the company, subject to statutory and regulatory approvals and satisfactory completion of financial and legal due diligence.

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