SBI’s Ambitious Rs 45,000 Crore Fundraising Plan

SBI, the country's largest bank, plans to raise up to Rs 45,000 crore through equity and debt, including Rs 25,000 crore via QIP. The QIP, at a floor price of Rs 811.05, could see a 5% discount. Approved by its board, SBI's initiative aims to bolster financial growth.

The State Bank of India (SBI), the nation's largest lender, has greenlighted a major fundraising initiative, seeking to amass up to Rs 45,000 crore through equity and debt issuances.

The bank officially announced its intent to tap into Rs 20,000 crore via bond sales to domestic investors within this fiscal year, as detailed in its regulatory filing made on Wednesday.

Simultaneously, SBI has embarked on a Qualified Institutional Placement (QIP) to secure up to Rs 25,000 crore, setting a floor price at Rs 811.05 per share, with potential discounts up to 5% to attract strategic institutional investment.

(With inputs from agencies.)