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Speaking at the 88th Founders' Day of the bank here on Friday, the Managing Director of the bank, Mr Bhat, said the proposed rights issue will be in the ratio of 2:5 (two shares for every five shares held). The issue closes on March 22.
The bank informed the BSE on Friday that the last date for request for split application forms is March 14. The bank has fixed February 28 as the record date for purpose of entitlement of offer under the proposed right issue.
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The January 24 board meeting of the bank had decided to issue two shares for every five shares held on rights basis at a price of Rs 85 a share, including a premium of Rs 75 per share.
The September 9 extraordinary general meeting of shareholders of the bank had approved a resolution to issue two equity shares for every five equity shares held on rights basis at a price not exceeding Rs 100 a share, including the premium.
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