New Delhi: Kerala-based South Indian Bank will raise up to Rs 500 crore by way of tier-II bonds to meet future credit demand.
"The Board of Directors of the bank at its meeting held today has decided to augment tier-II capital by issue of subordinated tier-II bonds for a total face value not exceeding Rs 500 crore, including greenshoe option, if any," South Indian Bank said in a filing to the BSE.
The bank's shares were trading 3.80 per cent up at Rs 27.35 apiece during afternoon session on the BSE.
Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.
