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Informist, Wednesday, Jul. 16, 2025

--SBI: QIP opened Wed, floor price INR 811.05 per share 

MUMBAI – State Bank of India Ltd.'s qualified institutional placement opened Wednesday and the floor price was set at INR 811.05 per equity share, the bank informed the exchanges. The bank may, at its discretion, offer a discount of not more than 5% on the floor price, it said in the filing.

The issue price would be determined in consultation with the book-running lead manager appointed for the issue, the bank further said in the filing. In May, the bank had said it had received board approval to raise equity capital aggregating up to INR 250.00 billion through QIP.

In June, media reports said the bank had shortlisted five investment banks to manage its QIP. These were Kotak Mahindra Capital, Citigroup Capital Markets, HSBC, Morgan Stanley, and ICICI Securities. SBI Capital Markets, the in-house investment banking arm of the SBI Group, will lead the transaction, according to the reports.

The state-owned bank had last tapped the QIP route in the financial year 2017-18 (Apr-Mar), raising INR 150.00 billion. Wednesday, shares of SBI ended 1.9% higher at INR 831.70 on the National Stock Exchange.  End

Reported by Siddhi Chauhan

Edited by Rajeev Pai

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