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South Indian Bank revive its Rs 1000 crore worth QIP plan

21 Feb 2012 Evaluate

South Indian Bank, brushing aside its fund-raising plan through equity sale in the backdrop of a bull rally in the market, has revived its Rs 1,000-crore qualified institutional placement (QIP) plan as abundant global liquidity has drawn over $4.5 billion to Indian shares since the beginning of the year.

The old private bank put the QIP issue on back-burner last year when the equity market was down. However, the uptake of the Indian equity markets has led to the revival of the QIP plan, which could take care of the company’s growth in the coming three years.

The bank’s net profit for the third quarter jumped 31.99% at Rs 102.24 crore as compared to Rs 77.46 crore for the corresponding quarter last year. Its total income has increased by 49.25% to Rs 1003.47 crore for the quarter under review from Rs 672.36 crore for the similar quarter of the previous year.

South Indian Bank Share Price

40.91 -0.86 (-2.06%)
08-May-2026 16:59 View Price Chart
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