Country’s largest lender, State Bank of India (SBI) has received its board’s approval to raise Base-III compliant Tier-2 bonds up to Rs. 5,000 crore during fiscal year 2019, through a public offer/private placement, the lender said in a statement.
Additionally, an approval has also been obtained for raising equity capital up to Rs 20,000 crore during the fiscal 2019 from the market by way of follow-on-public offer (FOP), Qualified Institutional placement (QIP) or Preferential allotment and so on, depending on the approval of shareholders, RBI, SEBI, and the govt of India, the lender added.
SBI share price on Monday ended at Rs 259.95, down by 0.35% on the BSE, while on the NSE, the share price quoted at Rs. 260, down by 0.42 percent on closing hours of stock markets. Meanwhile, the BSE Sensex closed down 0.53% at 34,134.38, and the NSE Nifty ended 0.57% lower at 10,245.25