State Bank of India gets shareholders' nod to raise Rs 20,000 cr through share sale

New Delhi: State Financial institution of India on Friday mentioned it has acquired shareholders’ approval to lift as much as Rs 20,000 crore via sale of shares.

The nation’s largest lender held a normal assembly of its shareholders in Mumbai to hunt approval for the enterprise as a particular decision, it mentioned in a regulatory submitting.

Shareholders’ approval was sought “to create, supply, situation and allot such variety of fairness shares for an quantity not exceeding Rs 20,000 crore…by the use of public situation (i.e. follow-on public supply) or non-public placement, together with QIP/GDR/ADR and/or every other mode or a mixture(s) thereof, as could also be determined by the board,” the financial institution mentioned.

SBI shares closed 0.13 p.c down at Rs 275.40 on the BSE.

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