SBI gets shareholders’ nod to raise Rs 20,000 crore via share sale

State Bank of India building at Sansad Marg in New Delhi. Photo By Pradeep Gaur/ Mint

State Bank of India building at Sansad Marg in New Delhi. Photo By Pradeep Gaur/ Mint

New Delhi: 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.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed)

First Published: Fri, Dec 07 2018. 05 45 PM IST

Source: Livemint