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State Bank of Travancore raises Rs 474 cr

Updated: May 9, 2015 2:41 pm

SBI associate State Bank of Travancore has raised over Rs 474 crore through a rights issue to fund business expansion. “The Committee of Directors… Has approved the allotment of 1,18,50,694 equity shares with a face value of Rs 10 each for cash at a price of Rs 400, including a premium of Rs 390 per equity share, aggregating Rs 474.03 crore, to eligible applicants of the rights issue,” it said in a statement. SBT is one of the five associate banks of the State Bank of India.

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