State-run lender South Indian Bank is selling shares to institutional investors to raise about Rs 440 crore, two sources with direct knowledge of the transaction said on Monday.
The floor price for the bank's share sale has been set at Rs 22.13 a share, the sources said, declining to be named as they were not authorised to speak to the media. South Indian Bank shares rose 3.3 percent on Monday at Rs 21.70.
