South Indian Bank Saturday said it will raise Rs 500 crore through issuance of debt securities on private placement basis in domestic and overseas markets.
The board approved a proposal of raising of funds in Indian/ foreign currency by way of issuance of debt securities including but not limited to non-convertible debentures, bonds, of up to Rs 500 crores in domestic and/ or overseas market, on a private placement basis and/ or for making offers and/or invitations, the bank said in a BSE filing.
According to the filing, the board in its meeting held on Saturday also approved the proposal to raise funds by issuing up to 30 crore share of face value of Rupee one each.
South Indian Bank board also decided to amend its memorandum of association.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.