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

RELATED ARTICLES

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E-mail ID will not be published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

  • Banks must learn from past mistakes to promote financial inclusion

    Prime minister Narendra Modi launched a massive financial inclusion programme yesterday titled “pradhan mantri jan dhan yojana’ (PMJDY), that will

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

Tushar Gandhi

Could prohibition mean profiteering?

In the mid 1930s, an American journalist asked Bapu if ...

Zehra Naqvi

The five universal languages of love

Love is a universal language. Don’t we all believe that? ...

Dharmendra Khandal

Time to protect our endangered wildlife species

After 65 million years of existence, the earth’s biodiversity is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture