India's Federal Bank rises after Blackstone affiliate buys stake

Federal Bank FED.NS stock rises 1.4% to 231.15 rupees after Blackstone BX.N affiliate buys 9.99% stake

Blackstone's Asia II Topco XIII gets warrants at 227 rupees each for 61.97 bln rupees ($705 mln) investment, lender says

Each warrant gives right to buy one FED equity share

YTD, FED up nearly 15.7% vs Nifty pvt bank index's .NIFPVTBNK almost 14% gain

($1 = 87.8950 Indian rupees)