State Bank of India raises $1.28 billion via share sale

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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Exchange managements must distinguish between speculation and gambling

    Every bull run in the Indian equity market raises the spectre of excessive speculation.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

Building smart cities the Indian way

Today more than half of the world’s population lives in ...

Zehra Naqvi

The mere display of power is not success

The stars are not afraid to appear like fireflies —Rabindranath Tagore ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture