State Bank of India launches up to $1.5b share sale: Sources

Tags: News
State Bank of India, the country's largest lender, on Tuesday launched a share sale to raise up to $1.5 billion that will be used to boost its domestic and overseas banking operations, three sources with direct knowledge of the deal said.

The bank is selling shares to institutional investors in the price band of 1,565 rupees to 1,596 rupees a share, said the sources, who declined to be named as they were not authorised to speak to the media.

State Bank of India shares ended 0.1 percent up on Tuesday at 1,596.30 rupees.

EDITORIAL OF THE DAY

  • Right to reveal

    Delhi is India’s first state to announce a scheme for witness protection. But what about the witnesses in other states?

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture