Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  NATIONAL STOCK EXCHANGE OF INDIA  >  State Bank of India    SBI   INE062A01012

End-of-day quote. End-of-day quote NATIONAL STOCK EXCHANGE OF INDIA - 11/20
297.1 INR   -89.80%
06/16DJBuffett Doubles Down with Insurance Australia Stake
06/15DJBerkshire Hathaway Buys Stake in Insurance Australia Group -- Upd..
06/15DJBerkshire Hathaway Buys Stake in Insurance Australia Group -- Upd..
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

State Bank of India : to Raise up to $558.3 Million via Preferential Share Allotment to Government

01/19/2013 | 07:17am US/Eastern
   By Ashutosh Joshi 
 

MUMBAI--State Bank of India (500112.BY) on Saturday said its board has approved raising up to 30.04 billion rupees ($558.3 million), via preferential allotment of shares to the Indian government.

Earlier this month, the government approved a proposal to inject up to INR122 billion ($2.27 billion) of capital into several state-run banks.

The government's decision is aimed at helping the state-run banks raise funds necessary to boost lending and meet higher capital requirements under the Basel-III rules that are being implemented in phases.

State Bank of India, also India's biggest lender by assets, said the fundraising will also enable it to support national and international banking operations of its units and it is seeking necessary approvals from the central bank and the government for increasing its capital size.

The funds will be injected this fiscal year that ends March 31, 2013.

The Indian government currently owns 61.6% of the bank.

Write to Ashutosh Joshi at ashutosh.joshi@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news on STATE BANK OF INDIA
07/02 STATE BANK OF INDIA : SBI launches enterprise wide loyalty programme
07/01 ELECTROSTEEL STEELS : Singapore company, tatas eye electrosteel
07/01 STATE BANK OF INDIA : Branch expansion plan
07/01 STATE BANK OF INDIA : Sbi launches enterprise wide loyalty programme
07/01 STATE BANK OF INDIA : Sbi to launch 250 intouch lite branches in fy16
07/01 STATE BANK OF INDIA : Sbi to reward customers for repaying loans on time
06/30 CHOLAMANDALAM INVEST & FIN : Ola, cholamandalam finance team up for car loans
06/30 MOBILE BANKING : Sbi eyeing top spot in value terms
06/30 STATE BANK OF INDIA : Bnp paribas cardiff set to hike stake in sbi life to 36%
06/30 HDFC BANK : Citibank cuts base rate to 9.35%
Advertisement
Chart
Duration : Period :
State Bank of India Technical Analysis Chart | SBI | INE062A01012 | 4-Traders
Income Statement Evolution
More Financials