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South Indian Bank to Raise Rs. 20 cr via QIP

South Indian Bank to Raise Rs. 20 cr via QIP

Private sector South Indian Bank said that in a bid to expand the business, it plans to raise Rs. 20 crores through private placement of shares. It also said that the specifics including price, time of issue, etc. will be discussed over time.

The bank’s board held a meeting recently during which it was decided that they shall issue up to Rs. 20 crore equity shares at the face value of Rs. 1 each through Qualified Institutional Placement (QIP).