South Indian Bank board clears QIB placements worth Rs 443.6 cr

MUMBAI: South Indian Bank board today approved allotment of 20 crore equity shares worth Rs 443.6 crore to qualified institutional buyers (QIBs).

"...the Capital Planning and Infusion Committee of the Board, formed for the purpose of this Issue... has approved the issue and allotment of 200,000,000 equity shares to the allotees," South Indian Bank said in a filing to the BSE.

The investors to whom shares were alloted include IIFL INC A/C Multiples Equity, First Carlyle Ventures Mauritius, IFCI Ltd, Multiples Private Equity Fund, State Bank of India, Axis Bank, SBIMF Magnum Sector Fund Umbrella Contra and SBI Life Insurance.

The issue was opened on September 3 and was closed on September 5. The issue price was fixed at Rs 22.13 a piece.

Shares of the bank today ended flat at Rs 21.55 apiece on the BSE.