South Indian Bank to raise Rs.500 crore through QIP issue

The Board of Directors of South Indian Bank Ltd at its meeting held on July 16, 2012, has decided to raise the paid up capital by way of a QIP issue of Equity shares with an issue size (including premium) not exceeding Rs. 500 crore. The number and price of the Equity shares to be issued as well as the time of the issue to be decided later.

The South Indian Bank Ltd stock was trading at Rs.25.40, up by Rs.0.40 or 1.60%. The stock hit an intraday high of Rs.25.75 and low of Rs.25.10.

The total traded quantity was 6.19 lakhs compared to 2 week average of 3.33 lakhs.

Source : Equity Bulls

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