The South Indian Bank date has been confirmed from March 6, 2024 – March 20, 2024.
The South Indian Bank Developers IPO is a fixed issue size of ₹1,151.00 Crores. The South Indian Bank Limited was among the first banks in South India to be created during the Swadeshi movement.
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Bidding Dates
Mar 6-20
Issue Size
₹1,151.00 Crores
Face Value
₹[] per share
Record Date
February 27, 2024
The South Indian Bank IPO GMP
The South Indian Bank Record Date is February 27, 2024.
IPO Overview
The South Indian Bank Limited was among the first banks in South India to be created during the Swadeshi movement. The South Indian bank offers
- Personal Banking: Under Personal Banking, the company offers account opening, term deposits, individual current accounts, personal loans, car loans, home loans, gold loans, etc., mutual fund investments, insurance, money transfers, etc.
- Priority Banking: Complimentary airport lounge, discount on locker rental, priority savings account, discount on lending, reward points, etc.
- NRI Banking: In this segment, the company offers account opening and deposits, loans and electronic services like online NRI account opening, KYC updates, FATCA-CRS updates etc.
- Online banking
- Banking services for businesses: These include business account opening, domestic financing, international financing, money transfer, 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 IPO 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
The company offers a wide range of services, including marketing and sourcing for industrial chemicals, pharmaceutical raw ingredients, APIs, solvents, formulations, and intermediates. They also help regulated and semi-regulated pharmaceutical businesses establish contract manufacturing compliance, guaranteeing that all global benchmark requirements are met and that leading certificates such as WHO-GMP are achieved.
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 | sibcorporate@sib.co.in |
| Website | southindianbank.com |
IPO Strenghts
- 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.
