RBI Approves Asia II Topco XIII's 9.99% Stake Acquisition in Federal Bank

• The Reserve Bank of India (RBI) has granted approval for Asia II Topco XIII Pte. Ltd. to acquire up to a 9.99% stake in Federal Bank Ltd.
• Federal Bank informed stock exchanges about the RBI's approval on Thursday, February 5, subject to specified conditions.
• US-based Blackstone, through its arm Asia II Topco XIII Pte Ltd, had previously received clearance from the Competition Commission of India (CCI) in December for this acquisition.
• The acquisition involves warrants that grant the right to subscribe to fully paid-up equity shares of Federal Bank.
• Federal Bank reported a 9% increase in Net Interest Income (NII) to ₹2,653 crore and a 9% rise in net profit to ₹1,041 crore for the third quarter, with improved asset quality.