Federal Bank offers Merchant Banking services for its customers.
- Services Offered
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- Bank is registered with SEBI as Category – I Merchant Banker
- Payment of instruments at all our branches
- 100% online status of instruments/MIS/reconciliation at any point of time.
Issue Management Services
- Acting as Managers to the issue.
- Bankers to the issue.
- Acceptance of Applications and Application money.
- Acceptance of allotment money.
- Remittance for Calls.
- The Scheme ASBA (Application Supported by Blocked Amount) is a process for applying to public/rights issues submitted by investors by blocking the application money in their bank account while subscribing to the issue.
- Application money remains in investor's account till allotment is finalized and continues to earn interest on the application money in SB Account till the amount is transferred to the Registrars on allotment.
- No need to write Cheques and DD towards application money. Investors need not bother about refunds as money remains in the account and once allotment is made the required money for the allotment will be paid to the company/issuer/Registrars.
- Any amount blocked will be subsequently released.
- ASBA Facility is available to all Federal Bank customers. To know more, please click here.
Contact your nearest branch for more details.