July 10 (Siliguri Chronicle) – State Bank of India (SBI), the country’s largest lender by assets, is planning to raise up to ₹25,000 crore (around $2.9 billion) through a share sale to institutional investors as early as next week, according to a report on Thursday citing sources familiar with the matter.
The bank’s board had given the green light for the fundraising plan in May. However, the proposed qualified institutional placement (QIP) is yet to be finalised and details may still change, Bloomberg reported.
If fully subscribed, the proposed QIP could become the largest equity fundraising of its kind in India, surpassing Coal India Ltd.’s ₹22,560 crore share sale in 2015. SBI did not immediately respond to Bloomberg’s request for comment.
This will be the first time since 2017 that the state-owned lender is raising funds from the equity market.
The planned share sale is intended to strengthen SBI’s capital base, enhance its lending capacity, and ensure it meets regulatory requirements.
A government source said state-owned banks in India are likely to raise around ₹45,000 crore through qualified institutional placements (QIPs) in the 2025–26 financial year.
For its share sale, SBI has appointed six investment banks to manage the transaction. These include Citigroup Inc., HSBC Holdings Plc, ICICI Securities Ltd., Kotak Investment Banking, Morgan Stanley, and SBI Capital Markets Ltd.
