SBI Shares in focus as bank schedules July 16 board meeting to discuss fundraising plans
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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)
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