South Indian Bank appoints Edelweiss Capital as Manager for QIP Issue

With reference to the earlier announcement dated July 16, 2007 regarding augmentation of share capital, wherein the Bank had mentioned that Management Committee of Board decided to appoint M/s. Edelweiss Securities Pvt Ltd, Mumbai as the Merchant Banker to the QIP issue, South Indian Bank Ltd has announced that M/s. Edelweiss Securities Pvt Ltd is a 100% subsidiary of M/s. Edelweiss Capital Ltd. The Licence to undertake Merchant banking activity rests with M/s. Edelweiss Capital Ltd, Nariman Point, Mumbai.

Accordingly, M/s. Edelweiss Capital Ltd will be the Merchant Banker to the Company's proposed QIP Issue.

The stock closed the day at Rs.148.95, down by Rs.3.25 or 2.14%. The total traded quantity was 44909 compared to 2 week average of 119904. The stock hit an intraday high of Rs.154.95 and low of Rs.147.

Source : Equity Bulls

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