State Bank of India has launched a Rs 25,000 crore share sale for institutional investors. The floor price is Rs 811.05 per share, a discount of 2.5%. The bank’s board approved this QIP issue. SBI also plans to raise Rs 20,000 crore through Basel III-compliant bonds. SBI shares have underperformed over the past year but have recently shown positive returns.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets