Core Insights - Blackstone plans to invest Rs61.9 billion ($705 million) in India's Federal Bank to acquire a 9.99% equity stake through its affiliate [1] - The investment will be executed via preferential equity shares and warrants, pending approval from Indian regulatory bodies [1] - Federal Bank will issue 272.97 million convertible warrants at Rs227 each, with a payment structure involving an initial 25% payment and the remaining 75% during equity share allotment [2] Investment Details - The investment will allow Blackstone's affiliate to appoint a retiring non-executive director to Federal Bank's board once all warrants are exercised [3] - An extraordinary general meeting for shareholders is scheduled for 19 November 2025 to facilitate the investment process [2][3] Industry Context - The investment in Federal Bank reflects a broader trend of increased deal activity in the Indian private banking sector, highlighted by recent acquisitions such as Emirates NBD's 60% stake in RBL Bank for nearly $3 billion [4] - Other notable transactions include Sumitomo Mitsui Banking Corporation's increased stake in Yes Bank, with a 20% purchase in May and an additional 4.2% in September [4]