South Indian Bank’s board has approved raising up to Rs 1,250 crore through a mix of equity and debt instruments. It will seek shareholders' nod in the upcoming annual general meeting (AGM).
The board has approved raising up to Rs 750 crore or its equivalent amount in foreign currencies, by issuance of equity shares/other securities including through public issue, private placement and/or preferential issue, among others, in one or more tranches. The board also approved raising up to Rs 500 crore through issuance of debt instruments in domestic and/or foreign markets on a private placement basis.
South Indian Bank is considered one of the most proactive banks in India with a competent tech savvy team of professional at the core of services.
