Earlier this month, SBI had appointed nine financial advisors to manage its equity offerings
State Bank of India (SBI) said it has received shareholders' approval for raising Rs. 15,000 crore through a public offer, including a rights issue, to fund business and meet global capital adequacy norms.
The general meeting held on Thursday approved "to create, offer, issue and allot, such number of equity shares of Re 1 each, not exceeding Rs 15,000 crore or such amount as approved by the Government of India and RBI...," SBI said in a filing to the BSE.
It would be "subject to the condition that the government's shareholding in equity share capital of the bank does not fall below 52 per cent at any point of time, by way of public issue...," it said.
Public issue would include follow on public offer or rights issue or private placement including QIP, ADR, GDR or any other mode decided by the board, SBI further said.
Earlier this month, SBI had appointed nine financial advisors to manage its equity offerings to help it meet tighter capital adequacy requirements
State Bank of India (SBI) said it has received shareholders' approval for raising Rs. 15,000 crore through a public offer, including a rights issue, to fund business and meet global capital adequacy norms.
The general meeting held on Thursday approved "to create, offer, issue and allot, such number of equity shares of Re 1 each, not exceeding Rs 15,000 crore or such amount as approved by the Government of India and RBI...," SBI said in a filing to the BSE.
It would be "subject to the condition that the government's shareholding in equity share capital of the bank does not fall below 52 per cent at any point of time, by way of public issue...," it said.
Public issue would include follow on public offer or rights issue or private placement including QIP, ADR, GDR or any other mode decided by the board, SBI further said.
Earlier this month, SBI had appointed nine financial advisors to manage its equity offerings to help it meet tighter capital adequacy requirements
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