New Delhi, July 22 -- SBI share price will be in focus on Tuesday after the PSU lender raised Rs.25,000 crore through Qualified Institutional Placement (QIP) to fund business growth.
The committee of directors of State Bank of India (SBI), at its meeting held on Monday, approved the closure of the issue pursuant to the receipt of application forms and the funds in the escrow account from the eligible Qualified Institutional Buyers (QIBs) in accordance with the terms of the issue, the SBI said in a regulatory filing.
SBI approved the allocation of 30,59,97,552 equity shares at an issue price of Rs.817 per share of a face value of Re 1 each, including a premium of Rs.816 apiece, it said.
SBI QIP was oversubscribed four-and-a-half times, ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.