Business Standard

SBI sets price for issuing shares to govt

Related News

of India (SBI), the country's top lender, will issue shares to the government at Rs 2,191.69 a piece to raise about Rs 7,900 crore, the state-run lender said on Thursday.

shares closed up 0.2% at Rs 2,260 ahead of the news.

The government is injecting funds into SBI by subscribing to its shares as part of a move to shore up the capital base of state-run banks eroded by fast growth and worsening asset quality.

SBI, which holds about a quarter of the country's loans and deposits, was downgraded by Moody's Investors Service in October last year because of its thin capital base and worsening asset quality.

Read more on:   
|
|

Read More

Responsible and pragmatic: Amitabh Chaudhry

There has been a high level of focus on financial and capital markets with a slew of measures

Quick Links

More news from Finance Rss icon

India's foreign exchange reserves rise by $1.31 bn

The country's foreign exchange reserves rose by $1.31 billion for the week-ended October 10 to $312.74 billion, show data released by the ...

RBI in talks with govt over a Financial Resolution Authority

Describes relationship with Centre as cordial, sees economic growth picking up

PSU banks eye sale of family silver to raise cash

Bad loans and lacklustre profits might drive the lenders to begin the sale of billions of dollars of unwanted assets to raise cash

Back to Top