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South Indian Bank jumps on getting nod to raise Rs 2000 crore

08 Jun 2022 Evaluate

South Indian Bank is currently trading at Rs. 7.97, up by 0.09 points or 1.14% from its previous closing of Rs. 7.88 on the BSE.

The scrip opened at Rs. 7.88 and has touched a high and low of Rs. 7.99 and Rs. 7.85 respectively. So far 516223 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 13.95 on 22-Jun-2021 and a 52 week low of Rs. 7.45 on 29-Mar-2022.

Last one week high and low of the scrip stood at Rs. 8.18 and Rs. 7.85 respectively. The current market cap of the company is Rs. 1670.01 crore.

The Institutions and Non-Institutions held 23.89% and 76.11%, stake in the Bank respectively.

South Indian Bank has received approval for raising of funds up to Rs 2000 crore or its equivalent amount in such foreign currencies, by issuance of equity shares/other securities including but not limited through public issue, private placement, preferential issue and/or Qualified Institutional Placement (QIP), Further Public Offer (FPO), Rights Issue or any other international offering like Global Depository Receipts (GDRs)/ American Depository Receipt (ADRs)/Foreign Currency convertible bonds (FCCBs ), any other Tier I instrument permitted by regulator( s) or any other permissible mode/appropriate route permitted or a combination thereof, at such price, time, premium, mode etc, in one or more tranches and on such other terms and conditions, as may be decided by the Board from time to time, subject to the applicable regulatory approvals, if any.

The board of director at their meeting held on June 7, 2022 has approved the same. The Board further recommended the same for the approval of shareholders by way of Special resolution at the forthcoming Annual General Meeting.

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.


South Indian Bank Share Price

38.95 0.17 (0.44%)
17-Apr-2026 16:59 View Price Chart
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