State Bank of Mysore is planning to raise Rs 600 cr through a right issue. The SBI associate is likely to float the issue in the fourth quarter of the current fiscal.

The Bangalore based bank operates through a network of 593 branches and 28 extension counters across the country.

The bank has plans to open 43 new branches and 2 specialised branches over the next coupe of years. The bank will also install 450 ATMs in the due course.

The bank posted a PAT of Rs 336.91 cr for the last fiscal.