State Bank of India launches 250 billion rupee share sale to institutional investors
The so-called floor price of the fundraise is 811.05 rupees per share, a 2.5% discount to the Wednesday's closing price, according to an exchange filing.
In May, the lender approved, opens new tab raising up to 250 billion rupees through modes including a so-called qualified institutional placement, which is used by listed Indian companies to raise funds from large institutions.
Earlier in the day, SBI approved raising up to 200 billion rupees through bonds during fiscal year 2026.
Shares of the bank ended 1.9% higher on the day, while the benchmark Nifty 50 (.NSEI), opens new tab index closed largely flat.
($1 = 85.9150 Indian rupees)
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