The South Indian Bank Ltd board approves issue of up to 30 crore shares

The Board of Directors of The South Indian Bank Ltd on the 15th June, 2019 has considered and approved the raising of funds by way of issuance of not exceeding 30 crore Equity Shares of face value of Re.1/- each, at such premium, mode, in one or more tranches and on such other terms and conditions as may be decided by the Board from time to time, subject to the approval of shareholders by issuance of equity shares including but not limited through public issue, private placement, preferential issue and/or Qualified Institutional Placement (QIP) or any other international offering like Global Depository Receipts (GDRs) / American Depository Receipt (ADRs) / Foreign Currency convertible bonds (FCCBs), any other Tier I instrument permitted by regulator(s) or any other appropriate route permitted, at such prices, time, etc., as may be decided by the Board from time to time, subject to the applicable regulatory approvals, if any.

Shares of SOUTH INDIAN BANK LTD. was last trading in BSE at Rs.13.21 as compared to the previous close of Rs. 13.37. The total number of shares traded during the day was 726893 in over 879 trades.

The stock hit an intraday high of Rs. 13.43 and intraday low of 13.04. The net turnover during the day was Rs. 9577701.

Source : Equity Bulls

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