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The South Indian Bank Limited Rights Issue (The South Indian Bank Rights Issue 2024) Detail

March 6, 2024 - March 20, 2024
The South Indian Bank Limited Logo

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

  • Personal Banking: Under Personal Banking, the company offers account opening, term deposits, individual current accounts, personal loans, car loans, home loans, gold loans, etc., mutual fund investments, insurance, money transfers, etc.
  • Priority Banking: Complimentary airport lounge, discount on locker rental, priority savings account, discount on lending, reward points, etc.
  • NRI Banking: In this segment, the company offers account opening and deposits, loans and electronic services like online NRI account opening, KYC updates, FATCA-CRS updates etc.
  • Online banking
  • Banking services for businesses: These include business account opening, domestic financing, international financing, money transfer, value added services, SIB API banking, etc.

The South Indian Bank Rights Issue 2024 Detail

Issue Open March 6, 2024 - March 20, 2024
Security Name The South Indian Bank Limited
Issue Size (Shares) 523,185,254
Issue Size (Amount) ₹1,151.00 Crores
Issue Price ₹22 per share
Face Value ₹1 per share
Listing At BSE, NSE
Terms of Payment

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.
Entitlement 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date

The South Indian Bank Rights Issue 2024 Issue Timetable

Last Date to buy sharesFebruary 26, 2024
Record Date February 27, 2024
Credit of Rights Entitlements March 5, 2024
Bid/Offer Opens On March 6, 2024
Renunciation of Rights Entitlements March 14, 2024
Bid/Offer Closes On March 20, 2024
Deemed Date of Allotment April 5, 2024
Credit Date April 9, 2024
Listing Date April 12, 2024

Company Financials

The South Indian Bank Limited Financial Information (Restated Consolidated)

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 Ended31 Mar 202331 Mar 2022
Assets107,697.16100,051.87
Revenue8,044.557,620.44
Profit After Tax775.3144.81
Net Worth6,098.03
Reserves and Surplus6,465.355,643.69
Total Borrowing6,993.853,294.49
Amount in ₹ Crore

Objects of the Issue:

The Bank intends to utilize the net proceeds from the Issue to increase its Tier 1 capital base to meet future capital requirements expected to arise from growth in assets, primarily loans and investment portfolio, and to ensure compliance with regulatory capital requirements prescribed by the RBI from time to time.

The South Indian Bank Rights Issue 2024 Subscription Status

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 754,083,784 shares.

The South Indian Bank Rights Issue 2024 Documents

The South Indian Bank Rights Issue 2024 Rating

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The South Indian Bank Rights Issue 2024 Reviews

Company Contact Information

The South Indian Bank Limited
S.I.B. House, T.B. Road,
P.B. No: 28,
Thrissur - 680001

Phone: 0487-2420 020
Email: sibcorporate@sib.co.in
Website: http://www.southindianbank.com/

The South Indian Bank Rights Issue 2024 Registrar

  1. Link Intime India Private Ltd
    Phone: +91-22-4918 6270
    Email: sib.rights2024@linkintime.co.in
    Website: https://linkintime.co.in/initial_offer/public-issues.html

The South Indian Bank Rights Issue 2024 Lead Manager(s)

  1. Iifl Securities Ltd

Find The South Indian Bank Rights Issue 2024 Latest Update

The South Indian Bank Rights Issue 2024 FAQs

The The South Indian Bank Rights Issue 2024 opens on March 6, 2024, and closes on March 20, 2024.

The South Indian Bank Rights Issue 2024 Schedule

Last Date for credit of Rights EntitlementsMarch 5, 2024
Last Date for renunciation of Rights EntitlementsMarch 14, 2024
Issue Opening DateMarch 6, 2024
Issue Closing DateMarch 20, 2024
Date of Allotment (on or about)April 5, 2024
Date of Credit (on or about)April 9, 2024
Date of Listing (on or about)April 12, 2024

The South Indian Bank Rights Issue 2024 price is set at ₹22 per share per equity share.

The eligible shareholders are being offered 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date (February 27, 2024).

The record date for the The South Indian Bank Rights Issue 2024 is February 27, 2024.

The issue size of The South Indian Bank Rights Issue 2024 is of 523,185,254 equity shares at ₹22 per share aggregating upto ₹1,151.00 Crores.

The Letter of Offer for The South Indian Bank Rights Issue 2024 can be download here.

You can apply for The South Indian Bank Rights Issue 2024 in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for The South Indian Bank Rights Issue 2024 using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the The South Indian Bank Rights Issue 2024 available on the list.
  4. Click the Apply button next to the The South Indian Bank Rights Issue 2024.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for The South Indian Bank Rights Issue 2024 using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select The South Indian Bank Rights Issue 2024 from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.

Read more about Right Issue of Shares

58 Comments

58. Rashmi   I Like It. |Report Abuse|  Link|April 22, 2024 3:36:14 PMReply
Why re is not credited to my acc.after money been debited for the same
57. Selva Kumar   I Like It. |Report Abuse|  Link|April 19, 2024 12:30:22 AMReply
I had elgible to buy 2000 right issue shares and i applied 2000 shares, they have debited from my account but till now shares not credited in my demat account.

Please somone suggest me,
56. XZ   I Like It. |Report Abuse|  Link|April 3, 2024 3:13:39 AMReply
Had an eligibility of 250 shares. Applied for 800 and got alloted 800.
55. Wsingh   I Like It. |Report Abuse|  Link|April 2, 2024 9:37:17 PMReply
Rights share of SIB appeared in Demat account at around 11am and, today I have sold them . Perhaps investors have not noticed it
54. CAGauravGoyal   I Like It. |Report Abuse|  Link|March 27, 2024 8:49:20 PMReply
Hello Experts.

I had right issue of 1,500 shares and ai blocked fund for 2000 shares.
My entire amount is got debited now. Whether I will get 2000 shares or excess amount will be refunded?
Load more comments (1 replies)
54.2. Gaurav   I Like It. |Report Abuse|  Link|April 2, 2024 12:19:33 PM
I believe you should get 1764 shares and refund for rest.
54.3. CAGauravGoyal   I Like It. |Report Abuse|  Link|April 2, 2024 3:10:06 PM
I got 2000 shares. It was good to apply for higher shares as compared to entitlement.
53. Gaurav   I Like It. |Report Abuse|  Link|April 2, 2024 12:05:41 PMReply
Initially it was 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares.
What is final Rights Equity Share(s) if any one has over subscribed ?
52. sureshguptha   I Like It. |Report Abuse|  Link|April 1, 2024 5:13:16 PMReply
eligible for 150 right issue share but paid by ASBA for 500 shares
my account not yet credited 350 shares to my demat account
my account debited for the entire 500 shares
when will it get credited
51. virat.kohli   I Like It. |Report Abuse|  Link|March 30, 2024 9:51:52 AMReply
SOUTH BANK RIGHT ISSUE ALLOTMENT IS OUT
50. Jaganathan   I Like It. |Report Abuse|  Link|March 29, 2024 1:38:29 AMReply
I applied for 12500 shares, and got the email message as if allotment also happened for 12500 shares. Money also got debited for same. But when I check the dmat, I had got only 3500. Any idea ?
50.1. rajkumar   I Like It. |Report Abuse|  Link|March 29, 2024 9:40:03 AM
what is your right entitlement and how much share you got before right issue
49. Test   I Like It. |Report Abuse|  Link|March 27, 2024 11:55:13 PMReply
IDFC bank debited
48. sks   I Like It. |Report Abuse|  Link|March 27, 2024 7:52:01 PMReply
I applied for 2000 shares against illegibility of 1000, amount debited for 2000 shares.
48.1. Bhushan Goyal   I Like It. |Report Abuse|  Link|March 27, 2024 9:56:30 PM
Which Bank
47. Tomi   I Like It. |Report Abuse|  Link|March 27, 2024 5:42:13 PMReply
Allotment received
47.1. Akshay   I Like It. |Report Abuse|  Link|March 27, 2024 9:36:29 PM
Only few accounts. Not every account
46. CHICKOO   I Like It. |Report Abuse|  Link|March 27, 2024 7:38:18 PMReply
Amount debited today
45. Wsingh   I Like It. |Report Abuse|  Link|March 27, 2024 6:53:36 PMReply
I just checked and found that 500 shares of SIB has been allotted to me against my entitlement of 200 shares.It is a surprise to me, since right issue was subscribed 2 time
44. Tomi   I Like It. |Report Abuse|  Link|March 27, 2024 6:21:39 PMReply
SIB Right allotment out
43. GIRISH SHARMA   I Like It. |Report Abuse|  Link|March 19, 2024 5:18:07 AMReply
AS PER THE INFORMATION AVAILABLE THE RIGHTS ISSUE CLOSES ON 20TH MARCH.
QUESTION: BU WHAT TIME ON 20TH MARCH ON SHOULD APPLY?
43.1. CAGauravGoyal   I Like It. |Report Abuse|  Link|March 20, 2024 1:15:39 PM
Max by 4 PM today (20th Mar)
42. Samkit   I Like It. |Report Abuse|  Link|March 19, 2024 12:44:23 PMReply
How to verify our bid ?
Can anyone guide pls
41. pokemon   I Like It. |Report Abuse|  Link|March 15, 2024 4:40:56 PMReply
I am having demat account with NSDL where DP ID starts with INxxxxxx. CAF No. is only digits. So, will my CAF No. will be 14 digits only? Please guide
41.1. Vinoth   I Like It. |Report Abuse|  Link|March 18, 2024 2:43:40 PM
DP ID plus Client ID should be your CAF number.
40. S R BHATTA   I Like It. |Report Abuse|  Link|March 15, 2024 11:19:40 PMReply
HOW TO APPLY FOR RIGHT ISSUE, FOR THE HOLDER OF SHARES IN PHYSICAL FORMS?
39. S.KARUPPIAH   I Like It. |Report Abuse|  Link|March 15, 2024 11:52:32 AMReply
247 shares have been allotted to me under right issue 2024 with bid amount of Rs.22/ per share. While applying through ASBA mode for 247 shares by putting bid amount of Rs.22/ the total bid amount should be Rs.5434/ But the total bid amount shows lesser than Rs.5434/. Can I apply with the amount as shown under ASBA mode.
39.1. Bhartendu Sood   I Like It. |Report Abuse|  Link|March 15, 2024 7:13:32 PM
why your Company or Registrar is not sending acknowledgement for applied through my Bank

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