THE State Bank of
India (SBI), country's largest lender, on February 11 began its
largest-ever fund raising drive to raise up to Rs 15,000 crore by
selecting nine investment bankers, including Goldman Sachs, Barclays
Plc and Bank...
of America Merrill Lynch (BofA-ML), says a media report.
Citi, SBI Caps,
Axis Bank, JM Financial, ICICI Securities and Kotak Mahindra Bank are
the other merchant bankers appointed for the share sale.
SBI last month
announced to mop up Rs 15,000 crore through a public offer, which
will include rights issue to fund business and meet global capital
adequacy norms.
The fund would be
raised either through follow-on public issue, qualified institutional
placement, rights issue, private placement, Global Depository
Receipt, American Depository Receipt or combination of these, the
bank had said.
SBI, in the
previous fiscal, had raised Rs 8,032 crore by selling shares through
the qualified institutional placement route.
Last month, the
government had announced to infuse Rs 2,970 crore in SBI under its Rs
11,200 crore capitalisation plan for public sector banks announced in
the Budget for 2014-15.
In the first
tranche of capital infusion, the government will inject Rs 6,990
crore in nine public sector banks.
Besides SBI, the
government will inject Rs 1,260 crore in Bank of Baroda, Rs 870 crore
in Punjab National Bank and Rs 570 crore in Canara Bank.
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