State Bank of India raises $1.28 billion via share sale
Jan 31 2014 , Mumbai
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.