
Indian state-owned banks to raise $5.25 billion in 2025-26 via QIP, source says
State Bank of India (SBI.NS), opens new tab, the country's biggest lender by assets, will launch its QIP soon, the source said. The bank had in May approved raising 250 billion rupees in equity capital this year.
The government will also complete its stake sale in IDBI Bank by October and also plans to sell shares in UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank in the financial year, the source added.
Prime Minister Narendra Modi's government laid out plans in this year's budget to raise 470 billion rupees through stake sales and asset monetisation.
India's finance ministry and SBI did not immediately respond to Reuters requests for comment outside office hours.
($1 = 85.6900 Indian rupees)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
an hour ago
- Reuters
Orsted raises $3 bln for Greater Changhua 2 wind farm
COPENHAGEN, July 10 (Reuters) - Danish offshore wind developer Orsted ( opens new tab said on Thursday it had agreed a 90 billion Taiwan dollar ($3.08 billion) project financing package for its 632 Megawatt (MW) offshore wind farm Greater Changhua 2 offshore Taiwan. ($1 = 29.2360 Taiwan dollars)


Reuters
an hour ago
- Reuters
TSMC second-quarter sales rise 38.6% y/y, beat forecasts
TAIPEI, July 10 (Reuters) - TSMC ( opens new tab, the world's largest contract chipmaker, reported on Thursday second-quarter revenue of T$933.80 billion ($31.9 billion), beating market forecasts, as demand for the company's products leaps on surging interest in artificial intelligence applications. Revenue for April-June came in at T$933.8 billion ($31.9 billion), according to Reuters calculations, rising 38.6% from T$673.51 billion in the year ago period. The latest result topped an LSEG SmartEstimate of T$927.831 billion drawn from 21 analysts, and was also better than the guidance of $28.4 billion to $29.2 billion issued by TSMC in April. TSMC will report full second-quarter earnings on July 17, including an outlook for the current quarter and full year. The company, whose customers include Nvidia (NVDA.O), opens new tab, has been a major beneficiary of advances in AI.


Reuters
an hour ago
- Reuters
Uniqlo operator Fast Retailing 9-month profit rises 12.2%
TOKYO, July 10 (Reuters) - Japan's Fast Retailing (9983.T), opens new tab, owner of the Uniqlo clothing brand, posted on Thursday a 12.2% rise in nine-month operating profit. Operating profit was 451 billion yen ($3.08 billion) in the nine months to May 31, against the consensus forecast of 458 billion yen, based on a LSEG poll of five analysts. The company kept its full-year forecast at 545 billion yen. It said the impact of U.S. tariffs on its earnings in the current fiscal year to end-August was likely to be limited as the company had front-loaded a substantial amount of its products to the North American market.