SBI plans follow-on public float in Q2FY07

State Bank of India (SBI) is planing a follow-on public offer in the second quarter of the next fiscal.

"The public offer is likely to be worked out during July-September 2006," SBI chairman A K Purwar said today.

He, however, did not say how much amount the bank was expecting to raise from the offer.

The bank will raise Rs 3,000-4,000 crore in debt in the next financial year, Purwar added.

Purwar said the bank was also considering a stock split in the ratio of 1:2 i.e one share of Rs 10 each would be split into two shares of Rs 5 each.