The South Indian Bank Limited has informed the Exchange regarding Board meeting held on July 17, 2025.
SOUTHBANK · price
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The South Indian Bank's Board, which met on July 17, 2025, approved holding the 97th Annual General Meeting (AGM) on August 20, 2025 via video conferencing. The Register of Members and Share Transfer Books will be closed from August 14 to August 20, 2025 for AGM, e-voting, and dividend (if declared), with August 13, 2025 set as the record date. The Board approved plans to raise up to Rs. 1,000 crore through debt instruments such as non-convertible debentures, Basel III Tier II bonds, and medium-term notes on a private placement basis, subject to shareholder approval. It also proposed amending the SIB ESOS-2008 employee stock option scheme, appointing M/s SVJS & Associates as Secretarial Auditors for five years (FY 2025-26 to FY 2029-30), and reappointing Sri. Benny P Thomas as Director and Mr. R A Sankaranarayanan as Independent Director for a second term of three years effective October 15, 2025.
Shareholders should note the book closure and August 13 record date to be eligible for any declared dividend. The Rs. 1,000 crore debt raising plan will bolster the bank's capital base (including Tier II capital) but may lead to dilution of earnings on a per-share basis once deployed. All key proposals including fund raising, ESOP changes, and appointments require shareholder approval at the upcoming AGM.