Hot Pursuit     28-Dec-23
South Indian Bank to raise Rs 1,750-cr via rights issue
The private sector bank announced that its board has approved the proposal of fund raising for an amount upto Rs 1,750 crore on 27 December 2023.
The funds will be raised by way of issue of equity shares on a right basis to its existing eligible shareholders as on the record date (to be fixed in due course).

South Indian Bank is a leading Kerala-based private sector bank with a nationwide presence.

The company’s standalone net profit rose 23% to Rs 274.81 crore on 25% increase in total income to Rs 2,484.77 crore in Q2 FY24 over Q2 FY23.

The scrip rose 0.52% to currently trade at Rs 26.82 on the BSE.

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