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South Indian Bank’s rights issue opens on February 28

Tuesday, Feb 21, 2017,12:56 IST By anju A A A

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

“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 February 28 and close on March 14. Last date of receipt of request for split application forms is March 7.

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

Shares of the bank were trading 0.97 per cent up at Rs 20.90 apiece on BSE.