₹1,151.00 Crores | Listing at BSE, NSE | Wed, Mar 6, 2024 - Wed, Mar 20, 2024
The South Indian Bank Limited Rights Issue comprises 52.32 Cr equity shares aggregating to ₹1,151.00 Cr, offered at an issue price of ₹22 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Feb 27, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 4.
The term of payment is defined as following : Rights Issue Price: Rs.22 per Rights Equity Share fully paid-up (including a premium of Rs.21 per Rights Equity Share) payable on Application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Apr 5, 2024.
The Rights Issue opens on Mar 6, 2024, and closes on Mar 20, 2024, with renunciation of Rights Entitlements permitted up to Mar 14, 2024.
The deemed date of allotment is Apr 5, 2024, following which the equity shares are expected to be credited to demat accounts on Apr 9, 2024 and listed at the NSE and the BSE on Apr 12, 2024.
IIFL Capital Services Ltd. is the Lead Manager to the issue and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the The South Indian Bank Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Tue, Feb 27, 2024
Entitlement Ratio
1 : 4
Open Date
Wed, Mar 6, 2024
Close Date
Wed, Mar 20, 2024
Rights Issue Price: Rs.22 per Rights Equity Share fully paid-up (including a premium of Rs.21 per Rights Equity Share) payable on Application.
The South Indian Bank Limited's revenue increased by 5.57% and profit after tax (PAT) rose by 1630.22% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 107,697.16 | 100,051.87 |
| Revenue | 8,044.55 | 7,620.44 |
| Profit After Tax | 775.31 | 44.81 |
| Net Worth | 6,098.03 | |
| Reserves and Surplus | 6,465.35 | 5,643.69 |
| Total Borrowing | 6,993.85 | 3,294.49 |
| Amount in ₹ Crore | ||
The South Indian Bank Limited is one of the first banks in South India to be established during the Swadeshi movement.
The South Indian Bank offers
[Dilip Davda] This banking counter is witnessing investors fancy. After a minor setback for FY22, it is back on track with its good financial performance from FY23 onwards. This scheduled commercial bank has Pan-India presence and is expanding its horizons. Investors may park funds for the medium to long term rewards in this bet. Read detail review...
The South Indian Bank Rights Issue 2024 got oversubscribed by 1.44 times by the end of the bidding period with total bid quantity received by BSE and NSE of 75,40,83,784 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | NSE Bid Quantity | Total Bid Quantity | Subscription Times |
|---|---|---|---|---|
Mar 20 2024 17:00:00 | 45,27,08,434 | 30,13,75,350 | 75,40,83,784 | 1.44x |
The South Indian Bank Limited
S.I.B. House, T.B. Road,
P.B. No: 28,
Thrissur - 680001
Thrissur, Kerala, 680001
The The South Indian Bank Rights Issue 2024 opens on Wed, Mar 6, 2024, and closes on Wed, Mar 20, 2024.
The South Indian Bank Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Tue, Mar 5, 2024 |
| Last Date for renunciation of Rights Entitlements | Thu, Mar 14, 2024 |
| Issue Opening Date | Wed, Mar 6, 2024 |
| Issue Closing Date | Wed, Mar 20, 2024 |
| Date of Allotment (on or about) | Fri, Apr 5, 2024 |
| Date of Credit (on or about) | Tue, Apr 9, 2024 |
| Date of Listing (on or about) | Fri, Apr 12, 2024 |
You can apply for The South Indian Bank Rights Issue 2024 in two ways:
Steps to apply for The South Indian Bank Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for The South Indian Bank Rights Issue 2024 using Registrar's website (R-WAP)
