State Bank of India Launches Rs 25,000 Crore Share Sale at Rs 811.05 Per Share
State Bank of India has initiated a Rs 25,000 crore share sale to institutional investors with a floor price set at Rs 811.05 per equity share, representing a 2.5% discount from the previous day's closing price.
PSU lender State Bank of India (SBI) has launched a Rs 25,000 crore share sale to institutional investors with a floor price set at Rs 811.05 per equity share, representing a 2.5% discount over the Wednesday closing price. The board approved the resolution to raise funds through qualified institutional placement (QIP) mode on May 3, 2025, and authorized the issue opening today. SBI shares closed 1.9% higher on the day, while the Nifty 50 index closed flat.
Earlier, SBI's board approved a plan to raise Rs 20,000 crore through Basel III-compliant Additional Tier 1 and Tier 2 Bonds. The lender will issue bonds to domestic investors during the current financial year. SBI shares have shown positive returns in 2025 despite being laggards in the PSU banking space. The stock is currently trading above its 50-day and 200-day simple moving averages and has exhibited volatility with a 1-year beta of 1.1.
In Q1FY25, SBI reported a standalone net profit of Rs 17,035 crore, up 0.9% from the year-ago period, with net interest income (NII) at Rs 41,125 crore, a 5.71% increase over Q1FY24.
According to the source: The Economic Times.
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0
