South Indian Bank to raise upto Rs 500 crore through bonds

The bank's shares were trading 3.80% up at Rs 27.35 apiece during afternoon session on the BSE

Press Trust of India New Delhi
Last Updated : Feb 25 2015 | 2:28 PM IST
Kerala-based South Indian Bank will raise up to Rs 500 crore by way of tier-II bonds to meet future credit demand.

"The Board of Directors of the bank at its meeting held today has decided to augment tier-II capital by issue of subordinated tier-II bonds for a total face value not exceeding Rs 500 crore, including greenshoe option, if any," South Indian Bank said in a filing to the BSE.

The bank's shares were trading 3.80% up at Rs 27.35 apiece during afternoon session on the BSE.

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First Published: Feb 25 2015 | 12:50 PM IST

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