Federal Bank Allots 1.77 Lakh Shares to Employees Under ESOS

Mumba: Federal Bank Limited has announced the allotment of 1,77,242 equity shares to employees who exercised their stock options under the Employee Stock Option Scheme (ESOS) 2017. Each share has a face value of Rs. 2, and the allotment follows full payment by the option grantees.

The allotment was approved by the Nomination, Remuneration, Ethics, and Compensation Committee of the bank. This move reflects Federal Bank’s ongoing commitment to rewarding its employees and aligning their interests with the growth and performance of the organization.

Samir P. Rajdev, Company Secretary of Federal Bank, confirmed that the allotment has been recorded and communicated to the National Stock Exchange of India (NSE) and BSE Limited, under the scrip symbols FEDERALBNK and 500469, respectively.

About Federal Bank Limited:
Founded in 1931 and headquartered in Aluva, Kerala, Federal Bank is one of India’s leading private sector banks, offering a wide range of banking products and services, including corporate banking, retail banking, and wealth management solutions.