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The rights issue of South Indian Bank opens for its shareholders on Tuesday and ends on March 14. The board of directors had approved the rights issue at a price of ₹14 a share in the ratio of 1:3 (one share for every three fully paid-up equity shares held in the bank.) South Indian Bank plans to offer 45.07 lakh shares in the rights issue. The bank has fixed February 17 as the record date for deciding the shareholders eligible to apply for the shares on rights basis.
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