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South Indian Bank’s rights issue opens on 28 February

LiveMint logoLiveMint 21-02-2017 PTI

New Delhi: Private lender South Indian Bank on Tuesday said its board has finalised the dates for its rights issue and it will open on 28 February.

“The Capital Planning & Infusion Committee of the bank by way of a resolution passed on February 20, 2017, has finalised the issue opening and the issue closing dates, including the last date of receipt of request for split application forms with respect to the proposed issue,” South Indian Bank said in a BSE filing.

The bank said its right issue will open on 28 February and close on 14 March. The last date of receipt of request for split application forms is 7 March.

In December 2016, South Indian Bank’s board had approved issuing one equity share for every three equity shares held by shareholders on rights basis.

On 14 December, the bank had informed about the rights issue with the aim to augment paid-up capital.

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