South Indian Bank Rights Issue

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South Indian Bank Rights Issue deadline is February 27, 2024. In late December 2023, the bank revealed its plan to raise funds through a rights offering for an approximate sum of Rs 1,750 crore.

South Indian Bank Rights Issue 2024

South Indian Bank Rights Issue 2024 :-South Indian Bank announced the Rights Issue at the discount of Rs 22 per equity Share fully paid-up (including a premium of Rs 21 per rights equity share) on application. For the same purpose, it has set the date of February 27, 2024 as the record date.

The period of opening for the rights issue is Wednesday, March 6, 2024, through Wednesday, March 20, 2024.

What Is Rights Issue?

A rights issue occurs when a business gives its current shareholders the option to purchase additional shares at a reduced cost. Usually, this is done in accordance with how many shares they currently possess. It provides the company with an additional source of funding while allowing current shareholders to keep their stake in the business.

The share price of South Indian Bank

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. niveshdarpan .in suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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