Board approves AGM on Aug 20, fundraise of Rs 1,000 cr, new MD and CEO

Board & Shareholder Meetings View source PDF

SOUTHBANK · price

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AI summary

South Indian Bank's board met on July 16, 2026 and approved the 98th AGM on August 20 via video conferencing. Record date is August 13 for dividend eligibility and e-voting; books closed August 14-20. Board approved raising up to Rs 1,000 crore via debt instruments including Basel III Tier II bonds on private placement, subject to shareholder approval. Also recommended appointing Mahesh Pai as MD and CEO for 3 years from Oct 1, 2026.

Likely market impact

Shareholders on record by Aug 13 eligible for dividend if declared. New MD and CEO from Oct 1. Rs 1,000 cr fundraising needs shareholder approval at AGM.