Overview
- SBI raised ₹25,000 crore by issuing 30.6 crore equity shares at ₹817 each in its first share sale since 2017, marking the largest QIP in India’s markets.
- Investor demand reached ₹1.12 lakh crore, oversubscribing the placement 4.5 times and drawing 64.3% of bids from foreign institutions.
- Life Insurance Corporation invested about ₹5,000 crore to increase its stake to 9.49%, while the government’s holding fell to approximately 55.03%.
- The equity infusion lifts SBI’s Common Equity Tier-1 ratio from 10.81% to 11.50%, aligning the bank with stricter Basel III capital requirements.
- Newly allotted shares will be credited on July 23 and begin trading on the BSE and NSE starting July 24.