The funds will be raised by way of issue of equity shares on a right basis to its existing eligible shareholders as on the record date (to be fixed in due course).

South Indian Bank is a leading Kerala-based private sector bank with a nationwide presence.

The company?s standalone net profit rose 23% to Rs 274.81 crore on 25% increase in total income to Rs 2,484.77 crore in Q2 FY24 over Q2 FY23.

The scrip rose 0.52% to currently trade at Rs 26.82 on the BSE.

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