South Indian Bank to raise upto Rs 500 crore through bonds

Wednesday, Feb 25, 2015,20:25 IST By metro vaartha A A A

New Delhi | Kerala-based South Indian Bank will raise up to Rs 500 crore by way of tier-II bonds to meet future credit demand. The Board of Directors of the bank at its meeting held today has decided to augment tier-II capital by issue of subordinated tier-II bonds for a total face value not exceeding Rs 500 crore, including greenshoe option, if any, South Indian Bank said in a filing to the BSE. The bank’s shares were trading 3.80 per cent up at Rs 27.35 apiece during afternoon session on the BSE.

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