SBI shares up over 1% on fund raising plans

Shares of State Bank of India (SBI) today rose by over 1 per cent after the company announced to raise Rs 15,000 crore through a public offer including rights issue to fund business and meet global capital adequacy norms.
SBI's scrip ended 1.41 per cent higher at Rs 334.45 on the BSE. During the day, it jumped 1.84 per cent to Rs 335.90 -- its 52-week high.
On the NSE, it closed with a gain of 1.01 per cent at Rs 333.40.
In terms of volume, 15.62 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.

"The committee of the Directors for capital raising has decided to seek government or RBI approval for raising capital up to Rs 15,000 crore by way public issue...," SBI said in a statement.
The bank requires adequate capital to match the anticipated growth in asset and comply with stipulated level of capital adequacy, it said.
The fund, SBI said ,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.