The Federal Bank Limited
Mirae Asset Mutual Fund decreased its stake in The Federal Bank Limited from 1.90% to 1.03%, selling 21,286,620 shares.
A private sector bank incorporated in 1931, Federal Bank provides comprehensive retail and corporate banking services to customers across India. The bank offers para banking activities including debit card services, third-party product distribution, treasury operations, and foreign exchange business. Headquartered in Kerala, it maintains a significant presence in the financial services sector and serves both individual and institutional clients through its extensive branch network and digital platforms.
Indian arm of South Korea's Mirae Asset Global Investments, one of Asia's largest asset managers. Manages over Rs 2.5 lakh crore in India across equity and hybrid funds. CIO Neelesh Surana has built a reputation for rigorous bottom-up stock selection with a long-term quality growth bias. Mirae Asset Emerging Bluechip Fund built a cult following before being closed to fresh investments due to size.