India-based Federal Bank Ltd. has agreed to acquire up to a 19.89% stake in investment bank Equirus Capital Pvt. Ltd. for an undisclosed sum.
The transaction received approval from the Reserve Bank of India, according to a June 12 filing.
This comes after the lender unveiled its plan to take up to 26% of Equirus Capital in February. Ashvin Parekh Advisory Services was named sole adviser to Federal Bank for the deal, the Business Standard reported.
