Member access

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%
6d agoDJIndia Shares Flat, Rupee Fall Aids Exporters
6d ago STATE BANK OF INDIA : SPLIT: 10 of 1
11/17 Australian, Indian leaders target free trade pact, economic boost
SummaryChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll 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
2h ago ICICI BANK : Restructured loans fall, banks remain cautious
2h ago STATE BANK OF INDIA : to launch Shariah fund
4h ago GAUTAM ADANI : Queensland to take king's stake in adani's australia project
1d ago STATE BANK OF INDIA : Sbi says loan to adani after scrutiny
1d ago STATE BANK OF INDIA : Tmb ties up with sbi epay for ecom deals
2d ago NTPC : Munpl signs loan agreement with sbi for $156.52 million
2d ago STATE BANK OF INDIA : SBI TO BE CAUTIOUS ON Rs6,000 CRORE LOAN TO ADANI
2d ago STATE BANK OF INDIA : Sbi revises service charges to shore up income
2d ago Sbi associate banks on massive hiring drive
5d ago SBI LEADS CHARGE AS PSBs SEE HEIGHTENED BUYING INTEREST
Advertisement
Chart
Duration : Period :
State Bank of India Technical Analysis Chart | SBI | INE062A01012 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF