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The Capital Planning and Infusion Committee of South Indian Bank (SIB) has fixed February 17 as the record date for deciding the equity shareholders entitled to apply for the shares of face value of ₹1 to be issued on a rights basis. The board of directors has already approved a proposal to issue shares on rights basis at a price of ₹14 per equity share of face value of ₹1 each (issue price including premium of ₹13) at a ratio of 1:3 (one for every three fully paid-up equity shares) at the record date.
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