South Indian Bank price band fixed at Rs.60 to Rs.66

The South Indian Bank Limited has announced the price band as Rs.60 to Rs.66 for its follow-on public issue scheduled to open on February 10, 2006. The issue closes on February 15, 2006. The maximum issue size would be Rs.150 Crores.

10% of the offering is reserved for employees and 10% for its existing shareholders. Of the remaining 80%, 50% is earmarked for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional bidders and 35% for retail investors.

The minimum application size is 100 shares and applications can be made in multiples of 100 shares.

Source : Equity Bulls

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