 "SBT rights issue opens on Tuesday")
State Bank of Travancore's Rs 474-crore rights issue will open on Tuesday and the funds garnered through the issue will be utilised towards increasing the capital base of the bank.
The issue will close on March 31, 2015.
State Bank of Travancore(SBT) is a subsidiary of State Bank of India (SBI). SBI holds 78.91% of shares in SBT.
The bank will sell over 1.18 crore equity shares of face value Rs 10 each.
The equity shares are being offered to the shareholders in the ratio of one equity share for every five equity shares held as on the record date of March 4, 2015.
The issue is being managed by BOB Capital Markets and SBI Capital Markets. The bankers to the issue are State Bank of Travancore, State Bank of India and HDFC Bank.
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