Diabytes
SBI fund raising News
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India`s largest bank State Bank of India (SBI) has successfully completed raising of Rs 15,000 crore from qualified institutional placement (QIP), a top bank official said on Friday.
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Country's largest lender SBI on Tuesday said it plans to raise funds through follow-on public offer and institutional placement in the current fiscal and has sought applications from merchant bankers for managing the issue.
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The fund raised will help the bank to meet global risk norms, Basel III, which will kick in from March 2019.
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Country's largest lender State Bank of India (SBI) on Monday said it plans to raise up to Rs 12,000 crore by issuing tier-II bonds on private placement basis.
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The government has asked the bank to decide on the timing of the FPO during its quarterly results between May 23-25.
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State Bank of India (SBI) will raise Rs 15,000 crore through a public offer including rights issue to fund business and meet global capital adequacy norms.
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