 "South Indian Bank net profit up 45.6%")
Thrissur-based South Indian Bank is seeking approval from its shareholders to raise funds by issuing 300 million equity shares at a premium, in order to meet its capital requirements.
The bank is considering various methods for the same —public issue, private placement, preferential issue, qualified institutional placement (QIP), Global Depository Receipts (GDR), Foreign Currency Convertible Bonds (FCCBs) or others, such as alternative investment fund/foreign portfolio investors (FPIs) or foreign corporate bodies (FCBs), in one or more tranches. It is also seeking approval to raise up to Rs 500 crore.
People in the know said the bank expects the fund raising
