20 June, 2017
"Agriculture had witnessed a growth of 4.1% previous year in the country and the trend is likely to continue", Mr. Rajnish Kumar added.
According to the sources, the floor price, which was fixed for the shares before QIP announcement was ₹287.58. The share sale was fully committed prior to the launch, according to reports.
"The committee of directors for capital raising of the central board of the bank, at its meeting held on June 5, 2017, has made a decision to open the issue for receiving bids in accordance with the provisions of Chapter VIII of the SEBI ICDR Regulations". SBI's capital adequacy ratio, at 13.11%, which includes 10.35% of tier-I capital, is higher than the regulatory requirement of 9%.
Last year, SBI had received Rs7,575 crore from the government as part of the centre's capital infusion plan. The government has a 62.2% shareholding in the bank.
In January 2014, SBI had raised Rs 8,032 crore via a placement of shares.
SBI had announced plans to raise funds through a follow-on public offer and institutional placement in the current fiscal and sought applications from merchant bankers to manage the issue.
The merger of SBI and its five associate banks has resulted in a consolidated balance sheet of Rs 35 lakh crore, making it one of the top 50 banks in the world.
State Bank of India has raised ₹15,000 crores via Qualified Institutional Placement of its shares. At the time, Life Insurance Corporation of India (LIC) had picked up a big chunk - around 41% - of the total shares sold. The bank will offer about 54.4 crore shares to institutional investors.
"At a time when the farm sector is going through a period of stress in various states, the SBI has taken the initiative to reach out to the farmers", the SBI said here in a statement on Tuesday.