The South Indian Bank Limited (BSE:c) is planning to raise INR 7 billion through Qualified Institutional Placements (QIP) to support its 20% growth target. South Indian Bank's Managing Director and Chief Executive Officer, V G Mathew, told Business Standard that South Indian Bank may look at diluting 10% -12% stake to raise around INR 6 billion - INR 7 billion through the QIP route. "We will be looking at raising capital this year itself to support our growth," said V G Mathew. South Indian Bank plans to raise the money through equity placement of 200 million shares to Qualified Institutional Buyers (QIB). As part of its growth plan, South Indian Bank has decided to focus on retail, agriculture and MSME (RAM) and reduce dependence on its corporate book, which has been under pressure for a few years now.