South Indian Bank, for funding business growth, proposes to raise Rs.20 crore via private placement of shares.

The bank in a filing to the exchanges stated, “The price, time of the issue etc will be intimated in due course.” Further, it stated that it’s board in a meeting held today has decided to increase the paid up capital by issue of up to 20,00,00,000 equity shares of face value of Rs.1 each via Qualified Institutional Placement (QIP).

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