State Bank of India raises $1.28 billion via share sale

Tags: Companies
State Bank of India, the country's largest lender, said it has raised 80.32 billion rupees through a sale of shares to institutional investors to boost its capital requirements.

The proceeds from the share sale will increase the overall capital adequacy ratio of the state-run bank to 12.81 percent and tier one capital adequacy ratio to over 9.67 percent, SBI said in a statement late on Thursday.

SBI launched the share offering on Tuesday in the indicative price band of 1,565-1,596 rupees a share to raise as much as $1.5 billion. The bank sold 51.3 million shares in the offering at the lower end of the range.

EDITORIAL OF THE DAY

  • It makes sense to highlight PM’s achievements with little noise to attract greater attention

    Are prime minister Narendra Modi and the BJP going over the top?

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Can Hefa actually become a reality?

The ministry of human resource development (MHRD) is actively wo­rking ...

Kuruvilla Pandikattu

The India of our dreams

The speech “I have a dr­eam,” that Martin Luther King ...

Shona Adhikari

Head to Tate Modern for a refresher course on Bhupen Khakhar

India’s celebrated artist Bhupen Khakhar’s exhibition, titled You Can’t Please ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture