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SBI gets shareholders' approval to raise Rs 20K crore through share sale


Devdiscourse News Desk new delhi Last Updated at 07-12-2018 18:04:04 IST India
SBI gets shareholders' approval to raise Rs 20K crore through share sale
  • The country's largest lender held a general meeting of its shareholders in Mumbai to seek approval for the business as a special resolution, it said in a regulatory filing. (Image Credit: Twitter)

State Bank of India Friday said it has received shareholders' approval to raise up to Rs 20,000 crore through sale of shares.

The country's largest lender held a general meeting of its shareholders in Mumbai to seek approval for the business as a special resolution, it said in a regulatory filing.

Shareholders' approval was sought "to create, offer, issue and allot such number of equity shares for an amount not exceeding Rs 20,000 crore...by way of public issue (i.e. follow-on public offer) or private placement, including QIP/GDR/ADR and/or any other mode or a combination(s) thereof, as may be decided by the board," the bank said.

SBI shares closed 0.13 per cent down at Rs 275.40 on the BSE.

(With inputs from agencies.)


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