South Indian Bank to raise Rs 1,000 cr by Sept

South Indian Bank plans to raise capital of Rs 1,000 crore by September this year by taking the QIP (Qualified Institutional Placement) route. The sum that the bank proposed to raise now will take care of our requirement up to 2015, when our business would reach Rs 1,25,000 crore from Rs 52,000 crore in FY11. Capital adequacy ratio is at 14 per cent at present is expected to improve 17-18 per cent after The bank is planning to add over 60 branches to its branch network to take the total to 700 by the end of this fiscal.crackcrack