CORRECTED - South Indian Bank selling shares to raise $79mn

SOUTHINDIAN-SHARES-MARKET:CORRECTED - South Indian Bank selling shares to raise $79mln: sources

 

(Corrects first paragraph to say bank is a private sector lender not state-run)

REUTERS - Private-sector lender South Indian Bank is selling shares to institutional investors to raise about 4.4 billion rupees, two sources with direct knowledge of the transaction said on Monday.

The floor price for the bank's share sale has been set at 22.13 rupees a share, the sources said, declining to be named as they were not authorised to speak to the media. South Indian Bank shares rose 3.3 percent on Monday at 21.70 rupees.