Business IdeasState Bank of Mysore to raise Rs 700 crore
State Bank of Mysore (SBM), the Bangalore-based associate bank of State Bank of India, is planning to raise Rs 600 crore through a rights issue. The bank’s board, which met here on Saturday, approved the proposal.
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However, the premium, the size and the ratio of the issue is yet to be decided. The issue is likely to be floated in the fourth quarter of this fiscal.