South Indian Bank Rights Issue 2024, Rights Issue Details

South Indian Bank Rights Issue 2024, Rights Issue Details

South Indian Bank Rights Issue 2024: South Indian Bank Rights issue is to open on 6 March 2024 and will close on 20 March 2024. South Indian Bank Rights issue Record date is 27 Feb 2024. The South Indian Bank is to offer 523,185,254 Equity shares at a price of ₹22 per share. The South Indian Bank Rights issue size will be ₹1,151.00 Cr. For More Details Check out South Indian Bank Rights Issue details.

 

South Indian Bank operates in three primary segments, i.e., retail banking, corporate/wholesale banking, and treasury operations, along with certain other banking operations. As part of its retail banking offerings, our Bank offers several products and services to its retail customers, such as deposits (including term deposits, savings accounts and current accounts), banking services for non-resident Indians (“NRIs”), agricultural loans, housing loans and top-ups, LAP, automobile loans, retail gold loans, personal loans, and cards and payment services.

 

South Indian Bank  Bank’s pan-India branch network allows it to provide banking services to a range of customers, including large and mid-sized corporates, institutions, state-owned enterprises as well as commercial, agricultural, industrial and retail customers. As of December 31, 2023, our Bank had approximately 0.76 crore customers, reflecting our large customer base.

Object of the Issue

  1. Our Bank intends to utilise the Net Proceeds from the Issue to augment our Bank’s Tier 1 capital base to meet our future capital requirements, which are expected to increase out of growth in our assets, primarily loans/advances and investment portfolio, and to ensure compliance with regulatory requirements on capital adequacy, prescribed by the RBI from time to time.
  2. The main objects and objects incidental or ancillary to the main objects as stated in the Memorandum of Association enable us to undertake our existing activities for which the funds being raised by us through the Issue will be deployed. Further, our objects as stated in the Memorandum of Association do not restrict us from undertaking the activities for which the funds are being raised by our Bank through this Issue.

 

The South Indian Bank Rights Issue 2024 Details

Open Date 6 March 2024
Close Date 20 March 2024
Issue Size ₹1,151.00 Cr.
Issue Equity 523,185,254 Equity Shares
Issue Price Band ₹22 Per Share
Face Value ₹1 Per Share
Listing BSE & NSE
Entitlement 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date
Drhp Click Here
Share Price Click Here

 

The South Indian Bank Rights Issue 2024 Time Table & Dates 2024

Record Date 27 Feb 2024
Bids Open On 6 Mar 2024
Bids Close on 20 Mar 2024
Renunciation of Rights Entitlements 14 Mar 2024
Deemed Date of Allotment 5 April 2024
Credit Date 9 April 2024
Listing Date 12 April 2024

 

South Indian Bank Financial Reports

₹ in Crores
Year Revenue Expense PAT
2023 ₹8,045.71 ₹775.31
2022 ₹7620.64 ₹44.81

 

South Indian Bank Company Contact Details

The South Indian Bank Limited
SIB House, Mission Quarters,
T.B. Road, Thrissur 680 001,
Kerala, India
Tel: + 91 487 2420 020/ 2429 333
Contact Person: Mr. Jimmy Mathew,
E-mail: ho2006@sib.co.in
Website: www.southindianbank.com

 

South Indian Bank Right Issue Lead Manager

IIFL Securities Limited
24th Floor, One Lodha Place,
Senapati Bapat Marg Lower Parel (West)
Mumbai 400 013
Maharashtra, India
Tel: (+ 91 22) 4646 4728
E-mail: sib.rights@iiflcap.com
Investor Grievance ID: ig.ib@iiflcap.com
Website: www.iiflcap.com
Contact person: Pawan Kumar Jain/ Mukesh Garg

 

South Indian Bank Right Issue Registrar

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai 400 083
Maharashtra, India
Tel: +91 810 811 4949
E-mail: sib.rights2024@linkintime.co.in
Investor Grievance E-mail: sib.rights2024@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan

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