Kerala-based South Indian Bank is looking to offer minority stake to a private equity investor in the coming months as the lender looks to fulfill its 2020 vision of becoming a 'retail banking power house' , multiple sources with knowledge of the matter told Moneycontrol."The management is open to the idea of raising capital by divesting a minority stake in the company to a strong, long-term focused, private equity investor. These plans are at a nascent stage and the route hasn't been finalised yet," one of the sources told Moneycontrol."South Indian Bank needs capital and would look at raising at least Rs 300 crores to grow its retail & MSME book. Once the market conditions improve, the company could go in for a preferential allotment of shares if it finalises the PE fund route," added a second source.Close Private equity firm Chrys Capital's investment arm Lavender Investments Ltd holds 4.91 percent stake in the bank. Other investors include Polaris … [Read more...] about Exclusive | South Indian Bank in fund-raising mode, open to private equity route
