State Bank of Travancore (SBT) has plans to raise funds via rights issue.
In a statement to the Bombay Stock Exchange (BSE) today, the bank said that its board would meet next week on 28 December to consider the rights issue to its shareholders.
Earlier this month, reports suggested that the bank was looking to raise around Rs 500-700 crore via righs issue which would be used to fund credit growth and improve capital to risk weighted assets ratio (CRAR) under Basel III.
The parent State Bank of India owns 75 per cent stake in SBT.
On the Bombay Stock Exchange, the shares of the bank were trading at Rs 812.60, up 3.24 per cent at 1512 IST.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app