Rights Issue

Rights Issue 2024 

The Board of Directors of the Bank at their meeting held on December 27, 2023,  approved the offer and issuance of fully paid-up equity shares of the Bank (the “Rights Equity Shares”) for an amount not exceeding Rs 1,750 crore, by way of a rights issue (“Rights Issue”), in accordance with the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws.

 

Details of the Issue 

Securities being Offered

Equity Shares of face value of Re.1/- each

Rights Entitlement

1 Equity Share for every 4   Equity Shares held

Issue Price

Rs. 22/- (including Premium of Rs.21/-)

Approximate No. of Shares in the Issue

52,31,85,254 shares

Issue Size - (In Rs. Crores)

Rs.1151.01 crore

Issue Opening Date   

06.03.2024

Issue Closing Date     

20.03.2024

Last date for On-Market Renunciation

14.03.2024

Date of Allotment (On or about)

05.04.2024

Date of Credit (on or about)  

09.04.2024


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