8:34 pm - Thursday March 28, 2024

State Bank of India (SBI) raises $1.28 billion via share sale

674 Viewed Alka Anand Singh Comments Off on State Bank of India (SBI) raises $1.28 billion via share sale
State Bank of India (SBI) raises $1.28 billion via share sale
State Bank of India (SBI) raises $1.28 billion via share sale

Mumbai – 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.

Don't miss the stories followIndiaVision India News & Information and let's be smart!
Loading...
0/5 - 0
You need login to vote.
Filed in

Oppo N1 with Android 4.2 and rotating camera launched at Rs. 39,999

HC rejects Kingfisher’s plea against move by banks

Kingfisher Airlines Ltd To Appeal Against Petition

Related posts