Page 5 - South Indian Bank

South Indian Bank plans raising Rs 5.2 billion via securities

The bank's board will meet on July 11 and take up its fund raising agenda for the meeting

South Indian Bank to raise Rs 7 bn via QIP to fund its 20% growth target

Kerala-based South Indian Bank (SIB) is planning to raise around Rs 7 billion through Qualified Institutional Placement (QIP) to support it's 20 per cent growth target.Bank's Managing Director & CEO V G Mathew told Business Standard that the Bank may look at diluting around 10-12 per cent to raise around Rs 6-7 billion through the QIP route. "We will be looking at raising capital this year itself to support our growth," said Mathew.The Bank, whose base is currently at around Rs 550 billion is confident on growing at around 20 per cent, while its desire is to grow at around 25 per cent.The Bank plans to raise the money through equity placement (200 million shares) to Qualified Institutional Buyers (QIB). It may be noted, currently around 40 per cent of the capital base is held by various investors and of this around 30 per cent are held by foreign investors including Lavender Investments, First Carlyle Venture, IVA International Fund, Acacia PartnersAs part of its growth plan, the .

South Indian Bank to raise Rs 500 crore to augment business capital

The bank's scrip closed 0.71% up at Rs 21.25 on BSE

South Indian Bank net profit up 45.6%

NPA rises compared to same quarter of previous year

South Indian Bank to raise Rs 500-crore from bonds

However, it is subject to approval of RBI, shareholders and other regulatory authorities

South Indian Bank announces tie up with National Australian Bank

Deal enables faster, hassle-free online inward remittances; NAB to be its main banking correspondent in Australia