SBI to raise up to Rs 15,000 crore through FPO and QIP
DSIJ Intelligence / 09 May 2017
The country's largest lender State Bank of India (SBI), in a public notice on Tuesday, May 9, 2017, said that it plans to raise funds through the follow-on public offer and institutional placement in the current fiscal.
The country's largest lender State Bank of India(SBI), in a public notice on Tuesday, May 9, 2017, said that it plans to raise funds through the follow-on public offer and institutional placement in the current fiscal.
"The bank intends to tap capital markets via a QIP/FPO. The issue size may vary based on various factors, including but not limited to management discretion and the decision of the shareholders," said the SBI in its public notice.
The SBI also said that applications from merchant bankers for managing the issue has been sought. The bank said it proposes to select and appoint up to 6 merchant bankers with requisite experience who together will be designated as Book Running Lead Managers (BRLMs).
The approval of the board for raising up to Rs 15,000 crore through various means such as public offer and overseas issuance of shares during the current fiscal has already been taken by the SBI.
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