mumbai the international finance corporation ifc group has invested rs 916 crore in federal bank in a notice to the stock exchange the keralabased bank said that the board approved the decision in its meeting on july 23the board approved the allotment of 105 crore shares of face value rs 2 to the ifc group at an issue price of rs 874 with this allotment the paidup capital of the bank has risen from 1996 crore shares to 2101 crore of rs 2 each the bank said in a statement that the decision by ifc to acquire 49 in the bank was a testimony to its belief in the brand and its operational efficiencyas of end june 2021 mutual funds held 356 in the bank followed by foreign investors 24 and insurance companies 108 individual shareholders and others held the remaining 293 the investment from ifc comes at a time when the banks ceo shyam srinivasan received rbis approval for a threeyear extension