SBI mobilises Rs 25,000 cr via QIP
SBI shares closed 0.11 per cent higher at Rs 824.20 on the BSE on Monday
SBI advertised for a total of 6,589 Clerk (Junior Associate) positions under this year’s recruitment drive (Archive) State Bank of India (SBI) on Monday successfully raised Rs 25,000 crore through a qualified institutional placement (QIP) of its equity shares, marking the largest QIP ever in the Indian capital markets. The shares were issued at a price above the floor price of Rs 811.05 per share.
“The book received robust demand and was oversubscribed 4.5 times, reflecting strong investor confidence in SBI’s strategy and the outlook for India’s banking sector,” SBI said. The offering received an overwhelming response, with total subscriptions amounting to Rs 1.12 lakh crore.
Foreign investors accounted for 64.3 per cent of total demand, underscoring the attractiveness of India’s growth story. Marquee long term investors received 88 per cent of the final allocation, including 24 per cent of the issue size placed with foreign long-term investors, it said.
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