Private sector South Indian Bank today said it will raise up to Rs 500 crore through private placement of shares.
The board has decided to raise the paid up capital by way of a QIP (qualified institutional placement) issue of equity shares with an issue size (including premium) not exceeding Rs 500 crore, South Indian Bank informed the BSE.
The number and price of the equity shares to be issued as well as the time of the issue to be decided later, it said.
