SIB follow-on offer opens on Feb 10

South Indian Bank (SIB) is planning to hit the capital market with a follow-on public offer of equity shares to raise about Rs 150 crore to augment its capital base.

The premium on shares of Rs 10 each will be decided through the book building process.

The issue will open on February 10 and close on February 15 at a price band to be decided on February 8, bank chairman and CEO V A Joseph said today.