South Indian Bank Ltd IPO

IPO Synopsis

Public issue of 22727272 equity shares of Rs. 10 each for cash at a price of Rs. 66 per equity share aggregating Rs. 150 crores by the South Indian Bank Limited (The Bank or Issuer). The issue comprises a net issue to the public of 18181818 equity shares of Rs. 10 each (The Net Issue) aggregating Rs. 120 crores and a reservation for eligible employees and share holders of up to 2272727 equity shares each at the issue price aggregating Rs. 15 crores each. The issue would constitute 32.2% of the fully diluted post issue paid-up capital of the Bank. Issue Price Rs.66 per equity share of face value Rs. 10. The face value of the shares is Rs. 10 and the issue price is 6.6 times of the face value