South Indian Bank Ltd to raise Rs. 500 crores

The Board of Directors of South Indian Bank Ltd at its meeting held on June 01, 2016 has decided to augment the capital by issue of Basel III compliant Tier I/II Bonds to be considered for Capital Fund purpose for a total face value not exceeding Rs. 500 Crores in one or more tranches, on such terms and conditions as it may deem fit, subject to the approval of Reserve Bank of India, Shareholders and other regulatory authorities, if any. The mode, price and time of the issue will be intimated in due course.

Shares of SOUTH INDIAN BANK LTD. was last trading in BSE at Rs.19.1 as compared to the previous close of Rs. 18.75. The total number of shares traded during the day was 493710 in over 748 trades.

The stock hit an intraday high of Rs. 19.2 and intraday low of 18.7. The net turnover during the day was Rs. 9383704.

Source : Equity Bulls

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