The South Indian Bank Limited has informed the Exchange regarding 'Disclosure under Regulation 54 of SEBI (LODR) Regulations, 2015.'.
SOUTHBANK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
South Indian Bank filed the quarterly security cover certificate under Regulation 54 of SEBI LODR for the quarter ended March 31, 2025. The bank has two outstanding listed unsecured non-convertible debentures (NCDs) totalling Rs 790 crore — Rs 300 crore (INE683A08028, issued Sept 2015) and Rs 490 crore (INE683A08036, issued Nov 2017). Since both are unsecured, a nil security cover certificate was issued. The auditor (M.P. Chitale & Co.) confirmed the bank complied with all covenants under the debenture trust deeds, had no defaults during the quarter, and maintained capital adequacy above RBI's regulatory requirement. The bank also exercised a call option on the Rs 300 crore NCD in January 2025 with RBI approval, making the redemption payment on January 24, 2025.
This is a routine regulatory compliance disclosure with no material negative impact. It confirms the bank is in good standing on its debt covenants with no defaults and comfortable capital levels. The early call option exercise on one NCD reflects normal liability management rather than any stress event.