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SBI, Union Bank and Bank of India Roll Out Combined ₹51,000 Crore Capital Raises

Fresh equity issuances followed by debt issues push capital ratios toward stricter regulatory targets.

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SBI taps 6 investment banks for Rs 25,000 crore QIP, says report
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Overview

  • SBI has appointed six banks—including Kotak Mahindra, Citigroup, HSBC, Morgan Stanley and ICICI Securities—to manage a ₹25,000 crore Qualified Institutional Placement expected by end-July, potentially ranking among India’s largest equity raises.
  • Union Bank’s board approved raising up to ₹6,000 crore split evenly between equity capital via a public offer, rights issue, QIP or preferential allotment and Basel III-compliant AT1 and Tier 2 bonds.
  • Bank of India’s board approved issuing up to ₹20,000 crore in long-term infrastructure bonds to fund projects such as highways and public transit assets.
  • SBI’s capital adequacy ratio stood at 14.25% as of March 31, 2025, down slightly from a year earlier but remaining above the regulatory minimum of 12.1%.
  • The government revoked Pankaj Dwivedi’s appointment as Union Bank executive director, reinstating him as general manager at Punjab & Sind Bank.