SBI Shares in focus as bank schedules July 16 board meeting to discuss fundraising plans
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Shares of the State Bank of India SBI ) are likely to be in focus on Friday, as the bank has announced its upcoming board meeting, scheduled for next week, to consider fundraising plans . The country's largest lender has informed stock exchanges that a meeting of its Central Board is expected to be held on Wednesday, July 16.In a regulatory filing, SBI stated that the board will consider and seek approval for raising funds during the financial year 2025–26 (FY26) through the issuance of Basel III-compliant capital bonds denominated in Indian Rupees (INR).'In compliance with Regulation 29 (1), Regulation 50 (1) and other applicable provisions of the SEBI (LODR) Regulations, 2015, we inform that a meeting of the Central Board of State Bank of India is scheduled to be held on Wednesday, 16th July 2025, inter alia, to consider and seek approval for raising funds during FY26 by way of issuance of Basel III compliant capital bonds in INR,' the company said.According to previous reports by ET, SBI is preparing to sell as much as Rs 25,000 crore ($2.9 billion) of shares to institutional investors as soon as next weekThis could be the nation's biggest deal of its kind.If fully subscribed, the qualified institutional placement (QIP) would become the largest ever in India, surpassing Coal India 's Rs 22,560 crore offering in 2015, according to Bloomberg data. The share sale was approved by the bank's board in May.On Thursday, the shares of SBI closed flat at Rs 808 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
20 minutes ago
- Hans India
TG seeks lower interest rates on REC loans
Hyderabad: The Telangana government on Wednesday poured out its financial woes before the Rural Electricity Corporation (REC) and urged it to lower interest rates on loans taken by the previous BRS government for the Kaleshwaram Lift Irrigation Project (KLIP). Irrigation Minister N Uttam Kumar Reddy met REC Managing Director Jitendra Srivastava in New Delhi and explained the mounting financial burden on the state government due to high interest rates on the loan availed by the previous government for KLIP. The then BRS government had borrowed Rs 16,000 crore from REC at high interest for irrigation projects, the irrigation minister said, adding that the Congress government has been facing a big difficulty to repay the loans with high interest rates. In some instances, the government could not repay loans due to paucity of funds and received notices from the REC, Reddy explained. REC, a Central government agency, has recently issued a notice to the state government for not paying the installment amount of Rs 1,393 crore towards loans borrowed by the Kaleshwaram Irrigation Project Corporation Limited (KIPCL) and Telangana State Water Resources Infrastructure Development Corporation (TSWRIDC). The REC also warned that loans availed by both the corporations would be declared NPAs (non-performing assets) if the state government failed to clear the dues. In a letter to Irrigation Secretary Rahul Bojja, REC Executive Director Jithin Kumar stated: 'There is a total overdue of Rs 1,393.65 crore of which Rs 319.74 crore and Rs 292.75 crore are critical dues of TSWRIDC and KIPCL, respectively. If dues are not cleared on or before June 28, it will lead to slippage of both accounts into the NPA category'. Furthermore, Jithin said both the borrower accounts were already classified as Stage-2 category under the Reserve Bank's NPA norms. This delay in serving the dues will have a negative impact on the financial record and rating of the utilities and the state, he remarked. At the time of availing the loan, the state government has agreed to repay the loan amount in monthly installments. Officials said that the REC already expressed serious concerns over the poor condition of the project after three barrages - Medigadda, Annaram and Sundilla - suffered damages. The delay in repayment will create more problems, they added. Responding to the Irrigation Minister's plea, the REC CMD said that the Centre will consider the state government's request and provide a relief from the burden of the payment of loans with high interest rates.
Economic Times
20 minutes ago
- Economic Times
Rising Trend: IPOs from Tier II and III cities in India gain momentum
Indian smaller cities are increasingly participating in the IPO market. Data shows a significant rise in the number of companies from these regions going public. They raised substantial funds through IPOs in recent years. This trend is expected to continue, with more companies planning to tap the capital markets. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ET Intelligence Group: Initial public offerings (IPOs) are no longer the domain of companies in India's major cities with a rising trend of firms from Tier II and III cities venturing into the primary market in recent years, showed data compiled by 2021, 14 companies from the smaller cities raised ₹5,465 crore through public issues, comprising 4.2% of total IPO funds raised that year. In 2024, the IPO tally climbed to 37 and the amount raised shot up nearly eightfold to ₹43,316 crore or 27% of the value of total IPOs. This calendar year so far, 22 firms from smaller cities have raised ₹8,120 crore or nearly 15% of total funding through of these cities include Ratlam, Kanpur, Vapi, Sangli, and some of these companies are regional heavyweights in their sectors, others have expanded to overseas markets. For instance, Visakhapatnam-based Manoj Vaibhav Gems N Jewellers caters to Andhra Pradesh and Telangana, while Shreenath Paper from Aurangabad supplies to clients in Maharashtra, Gujarat, and Madhya Pradesh. On the other hand, Agra-based HMA Agro Industries exports food products to several countries, while Umbergaon, Gujarat-based Doms Industries supplies its stationary products in domestic market as well as overseas.A stock market listing not only brings in a new set of investors but also paves the way for greater transparency by exposing these firms to industry best Shah, managing director and investment banking head at Equirus Capital, said India is witnessing true democratisation of entrepreneurship and value creation. "We are seeing some fantastic companies from the non-metropolitan cities which have scaled up nicely with their differentiated business models," he said, adding that tapping into capital markets also helps such companies attract strong management talent, which otherwise is restricted to the trend of companies in small cities tapping the IPO route to raise growth capital is likely to continue. According to 19 companies are planning to raise nearly Rs 7,100 crore in the second half of 2025. This includes Rayzon Solar from Surat, Kumar Arch Tech from Udaipur, Paramesu Biotech from Devarapalli, Excelsoft Technologies from Mysuru, and Bharat Coking Coal from however, caution investors to tread carefully, as these IPOs could emerge as comparatively riskier bets. "The degree of scrutiny by analysts and the media is far lower for companies based in smaller cities compared to those in metros, where most analysts and media houses are concentrated," Shankar Sharma, veteran investor and founder of GQuant Investech, told ET."The valuation game can be highly seductive for promoters of these companies."
Economic Times
20 minutes ago
- Economic Times
GIFT Nifty down 180 points; here's the trading setup for today's session
The position of FIIs in the futures market increased from a net short of Rs 1.70 lakh crore on Tuesday to Rs 1.73 lakh crore on Wednesday. Nifty closed slightly higher, influenced by L&T and Sun Pharma, but faces potential volatility due to Trump's tariff announcement. Analysts advise caution and hedging strategies as earnings season progresses. The rupee weakened amid India-US trade uncertainty, while FIIs remained net sellers. Tired of too many ads? Remove Ads Tech View: The short-term trend remains slightly weak as the index continues to sustain below this critical moving average The short-term trend remains slightly weak as the index continues to sustain below this critical moving average India VIX: India VIX, which is a measure of the fear in the markets, rose 2.8% to settle at 11.20 levels. Tired of too many ads? Remove Ads Dow off 0.38%, S&P 500 off 0.12%, Nasdaq up 0.15% S&P 500 futures rose 0.8% as of 9:19 a.m. Tokyo time Hang Seng futures fell 1% Japan's Topix rose 0.4% Australia's S&P/ASX 200 fell 0.5% Euro Stoxx 50 futures rose 0.4% Tired of too many ads? Remove Ads Nifty ended marginally higher for the second straight session on Wednesday, led by strength in index heavyweights such as L&T and Sun Pharma . In today's trade, markets will react to Trump's 25% tariff the likelihood of volatile swings, analysts recommend maintaining a cautious stance and prefer a hedged action will likely continue as the earnings season gathers Nifty on the NSE IX traded lower by 179 points, or 0.73 per cent, at 24,675, signaling that Dalal Street was headed for negative start on Wednesday.U.S. stocks closed well off earlier highs after a choppy session on Wednesday, as Federal Reserve Chair Jerome Powell chilled expectations the central bank might be poised to cut rates at its September equity-index futures rose on robust earnings from megacap tech companies after a volatile session on Wall Street. Asian shares were trading prices rebounded on Thursday from a one-month low hit in the previous session, as trade uncertainty stemming from fresh U.S. tariff announcements lifted bullion demand and investors bought on dips despite reduced expectations of a U.S. rate dollar flirted with a two-month peak on Thursday after Federal Reserve Chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on when they could be prices gained for a fourth straight day on Thursday, as investors worried about supply shortages amid U.S. President Donald Trump's push for a swift resolution to the war in Ukraine and threats of tariffs on countries buying Russian in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position portfolio investors net sold shares worth Rs 850 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 1,829 rupee depreciated 52 paise to close at 87.43 against the US dollar on Wednesday, on uncertainty over India-US trade position of FIIs in the futures market increased from a net short of Rs 1.70 lakh crore on Tuesday to Rs 1.73 lakh crore on Wednesday.
