The South Indian Bank date has been confirmed from March 6, 2024 – March 20, 2024. Read the post to learn about The South Indian Bank Rights Issue.
A fixed issue amount of ₹1,151.00 crores is being offered in the South Indian Bank Developers Rights Issue. During the Swadeshi movement, one of the earliest banks established in South India was the South Indian Bank Limited.
Start your investing journey today. Find the latest information on Upcoming Rights Issue.
Key Details Of South Indian Bank Rights Issue:
Bidding Dates
Mar 6-20
Issue Size
₹1,151.00 Crores
Face Value
₹1 per share
Record Date
February 27, 2024
The South Indian Bank Issue
The South Indian Bank Record Date is February 27, 2024.
Issue Overview
The South Indian Bank Limited was one of the first banks in South India to be established during the Swadeshi movement. The South Indian Bank offers
- Personal Banking: The firm provides mutual fund investments, insurance, money transfers, term deposits, individual current accounts, personal loans (including auto, house, and gold), mutual fund opening, and more.
- Priority Banking offers a complimentary airport lounge, a discount on locker rental, a priority savings account, a loan discount, reward points, and other benefits.
- NRI Banking: The organisation provides loans, deposits, account opening and maintenance, and electronic services, including online NRI account opening, KYC updates, FATCA-CRS updates, and more.
- Online banking
- Business banking services include account opening, local and international finance, money transfers, value-added services, SIB API banking, etc.
The South Indian Bank Rights Issue 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 | |
| Listing At | BSE, NSE |
| Terms of Payment | |
| Entitlement | 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date |
The South Indian Bank Ltd Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 107,697.16 | 100,051.87 | 94,149.17 |
| Revenue | 8,044.55 | 7,620.44 | 1,185.48 |
| Profit After Tax | 775.31 | 44.82 | 61.91 |
| Amount in ₹ Crore | |||
The South Indian Bank Issue Timeline
| Last Date to buy shares | February 26, 2024 |
| Record Date | February 27, 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | March 6, 2024 |
| Renunciation of Rights Entitlements | |
| Bid/Offer Closes On | March 20, 2024 |
| Deemed Date of Allotment | |
| Credit Date | |
| Listing Date |
Company Profile
In addition to marketing and sourcing for industrial chemicals, pharmaceutical raw materials, APIs, solvents, formulations, and intermediates, the firm provides a wide range of services. They also assist pharmaceutical companies that are regulated or semi-regulated in setting up contract manufacturing compliance, ensuring that all worldwide benchmark standards are fulfilled and that top certifications like WHO-GMP are obtained.
Registrar Info
| Note: | Sorry, we couldn’t find any reviews, please check back later. |
Contact Details
| Name | The South Indian Bank Limited |
| Phone number | 0487-2420 020 |
| Email ID | [email protected] |
| Website | southindianbank.com |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
The South Indian Bank IPO FAQs
What is the issue price for The South Indian Bank Rights Issue 2024?
The South Indian Bank Rights Issue 2024 price is set at ₹22 per share per equity share.
In what ratio is the The South Indian Bank Rights Issue 2024 offered?
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).
What is the record date for The South Indian Bank Rights Issue 2024?
The record date for the The South Indian Bank Rights Issue 2024 is February 27, 2024.
What is the issue size of The South Indian Bank Rights Issue 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.
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