South Indian Bank to allot 2 Crores shares at Rs.163

South Indian Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on September 24, 2007, has allotted two crore equity shares of Rs 10/- each, by way of a Qualified Institutions Placement (QIP) Issue to eligible Qualified Institutional Buyers (QIBs). The issue price has been fixed at Rs 163/- per share including premium.

The stock closed the day at Rs.160.65, up by Rs.0.60 or 0.37%. The stock hit an intraday high of Rs.164 and low of Rs.158.75.

The total traded quantity was 103165 compared to 2 week average of 292250.

Source : Equity Bulls

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