The South Indian Bank Ltd to consider raising funds

A meeting of the Board of Directors of The South Indian Bank Ltd., Thrissur, scheduled to be held on Tuesday, the 9th January, 2018 (as intimated to the exchanges through our letter dated December 28, 2017) shall also consider a proposal to augment the paid-up capital by issue of equity shares or other securities convertible into equity shares, through one or more modes permissible under applicable laws and as approved by the Board and the shareholders of the Bank, including but not limited to, preferential allotment, qualified institutions placement, rights issue or public issue, for an amount not exceeding Rs. 20 crores in nominal value, 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. 31.15. The total number of shares traded during the day was 733466 in over 1177 trades.

The stock hit an intraday high of Rs. 31.75 and intraday low of 31.15. The net turnover during the day was Rs. 23027081.

Source : Equity Bulls

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