South Indian Bank to raise Rs. 500 crores

The Board of Directors of the South Indian Bank Limited at their meeting held today, the 20th day of November, 2017 has decided to augment the capital by issue of Basel III compliant Tier II Bonds not exceeding Rs. 500 Crores in one or more tranches with or without green shoe option, on such terms and conditions as it may deem fit, subject to the approval of regulatory authorities, if any.

Shares of SOUTH INDIAN BANK LTD. was last trading in BSE at Rs.31.45 as compared to the previous close of Rs. 30.6. The total number of shares traded during the day was 2053057 in over 2871 trades.

The stock hit an intraday high of Rs. 31.55 and intraday low of 30.35. The net turnover during the day was Rs. 63815735.

Source : Equity Bulls

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