SummarySouth Indian Bank’s rights issue will open on March 6 and close on March 20. The record date for the bank’s rights issue has been set as Tuesday, February 27South Indian Bank’s Board of Directors at the meeting held on February 21, 2024, approved the rights issue to raise ₹1,151.01 crore, the lender said in a filing to the stock exchanges.
The bank informed the bourses that it will issue a total of 5,231,85,254 rights equity shares, each on a fully paid up basis. The right issue price has been fixed at ₹22 per share that will be fully paid up on application. The rights issue price reflects a 32% discount to the closing price on Wednesday, February 21.
As per the stock…
Read More…