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SBI Chairman C S Setty has said that Rs 25,000 crore equity capital raised through the qualified institutional placement route earlier this year would support Rs 12 lakh crore credit growth and maintain a capital adequacy ratio of 15 per cent over 5-6 years. On the debt capital side, he said, the bank would mobilise Rs 12,500 crore through bonds as part of a periodic exercise. "Even before this QIP was raised, our ability to fund credit growth has never been a problem. We wanted to strengthen the capital ratios, so we have done that. Our long-term strategy is to maintain CRAR at 15 per cent and Common Equity Tier 1 at 12 per cent," he told PTI in an interview. This kind of Capital to Risk Asset Ratio (CRAR) gives the bank the ability to fund advances over Rs 12 trillion, he said. "With a profit rate what we have today, if the same profitability is maintained for another 5-6 years, we may not require any capital raising, at least on the CET 1 part," he said. SBI in July this year .
Aerospace and defence engineering solutions provider Rossell Techsys on Monday said its Board has approved a proposal to raise up to Rs 300 crore through various instruments, including QIP, to fuel its next phase of growth. Rossell Techsys said it anticipates growth opportunities in its existing operations and continues to evaluate avenues for organic expansion. Rossell Techsys Limited's Board of Directors has approved a fundraise of up to Rs 300 crores. The capital will be raised through the issuance and allotment of fully paid-up equity shares and/or other eligible securities, including through a Qualified Institutions Placement (QIP), in accordance with applicable law, the company said in a statement. It has already initiated a postal ballot seeking shareholder approval, with e-voting scheduled from November 4 to December 3. "This capital infusion will support the company's growth and capability expansion plans and strengthen our financial position, enabling us to continue build
Food delivery and quick commerce firm Swiggy, which owns Instamart, on Thursday said its Board will meet on November 7 to consider and approve a proposal to raise Rs 10,000 crore through a qualified institutional placement. Swiggy said the external environment is competitive and dynamic, and hence the company's board will consider raising additional funds. "With the current cash balance to be further bolstered by the Rs 2,400 crore Rapido divestment, we feel comfortable about our overall balance sheet strength, and are well-funded for our growth ambitions," Swiggy said in a letter to shareholders. "However, the external competitive environment is dynamic, and legacy and new players continue to attract investments to the sector. This has necessitated a conversation with the Board to consider additional fundraising, which will give us access to sufficient growth capital while enhancing our strategic flexibility. Hence, the Swiggy Board will be meeting on 7 November 2025, to consider a
SBI chairman C S Setty on Wednesday said the Rs 25,000-crore capital raise through the qualified institutional placement (QIP) route is a vote of confidence on the country's largest lender and also the Indian economy. Speaking at a ceremony at the NSE to mark the the fund raise as India's biggest share sale ever, Setty said the capital will be deployed for asset growth. He also said that even before the QIP, the bank was in a position to support asset growth of up to Rs 6 lakh crore, but the fund raise will be of help for it. "This landmark equity issue is a vote of confidence in SBI's strong fundamentals, potential risk management and the customer centricity with the digital first approach," Setty said. Thanking the investors led by state-run life insurance behemoth LIC for the response to the issue, which received bids of over Rs 1.12 lakh crore and was over-subscribed by over four times, Setty also spelled out the revised capital levels. The common equity tier-I capital will ..
State-owned IREDA has raised over Rs 2,000 crore through the issuance of qualified institutions placement. The qualified institutions placement (QIP) issue, which was open from June 5-10, received an encouraging response from both domestic and foreign qualified institutional buyers (QIBs), including insurance companies, scheduled commercial banks and foreign portfolio investors. The board has approved the allotment of equity shares to eligible qualified institutional buyers in its meeting held on Wednesday. The QIP was oversubscribed with bids amounting to Rs 2,005.90 crore against the base issue size of Rs 1,500 crore, achieving a subscription of 1.34 times. The capital was mobilised by issuing 12.15 crore equity shares at Rs 165.14 per share, which includes a premium of Rs 155.14 per share over the face value of Rs 10, IREDA said. The issue price of Rs 165.14 reflects a discount of 5 per cent to the floor price of Rs 173.83 per equity share. The capital raised through this issu