As a part of its capital augmentation plan, Catholic Syrian Bank is coming out with a rights issue of 1.04 crore equity shares at Rs 75 a share (equity shares of Rs 10 being issued at a premium of Rs 65 a share).
Existing shareholders of the bank will be eligible for the rights issue shares in the proportion of one share for every three shares held by them as on the record date.
The record date fixed for the rights issue is March 2. The capital base of the bank will increase by Rs 78 crore after this rights issue. The issue will open on March 7 and close on March 21.
The rights offer will boost the business growth plan of the bank for the ensuing financial years, a press release issued here said.