State Bank of India informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 811.05 per equity share.
The company's board authorized and declared the opening of the issue on Wednesday, 16 July 2025.The floor price of Rs 811.05 is at a discount of 2.47% to the scrips previous closing price of Rs 831.55 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the book running lead managers appointed for the issue.
The State Bank of India (SBI) is an Indian multinational, public-sector banking, and financial services statutory body. As of 31 March 2025, the Government of India held a 57.43% stake in the bank.
The banks standalone net profit declined by 9.93% year-on-year (YoY) to Rs 18,642.59 crore in Q4 FY25, compared to Rs 20,698.35 crore reported in Q4 FY24. However, total income increased 12.04% YoY to Rs 1,43,876.06 crore in the quarter ended 31 March 2025.
The scrip rose 0.52% to currently trade at Rs 835.90 on the BSE.
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