Shares of State Bank of India (SBI) traded slightly higher on July 17 after the country’s largest lender formally launched its qualified institutional placement (QIP) to raise ₹25,000 crore. As of 9:16 AM, the stock was quoted at ₹840.00, up 1.00% from the previous close, hovering near the upper end of the indicative price band of ₹806.75–₹831.70.
The base floor price for the issue has been set at ₹811.05 per share, and the QIP is expected to:
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Boost Tier 1 capital ratio to 12.95%, up by 214 basis points
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Increase SBI’s net worth by 5.7%, supporting its long-term balance sheet strength
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Dilute equity by 3.5%, marginally reducing stake for existing shareholders
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Raise book value per share by 2.1%, reflecting enhanced intrinsic value
With this QIP, SBI aims to reinforce its capital adequacy as it gears up for future credit growth and regulatory requirements.
On the exchange, SBI opened at ₹838.40 and touched a high of ₹840.50 during early trade. The stock has a 52-week high of ₹899.00 and a low of ₹680.00, with volumes at 9.88 lakh shares as of the latest update.
Disclaimer: This news article is based on publicly available disclosures and market data. It does not constitute investment advice. Investors are advised to consult certified financial advisors before making any investment decisions.
