June 13, 2024

Paull Ank Ford

Business Think different

State Bank of India to raise Rs 8,000 crore, gets shareholders’ nod

Lender of India has acquired its shareholders acceptance to increase up to Rs eight,000 crore by means of several modes which includes equity shares.

The shareholders gave the acceptance in its Incredible Basic Assembly on Saturday, the lender said in a regulatory filing.

It said that they gave the “acceptance to increase refreshing cash up to an quantity of Rs eight,000 crore by way of equity shares/tier-I/tier-II bonds by way of general public problem or right problem or preferential problem or QIP or non-public placement or any other permitted method at an appropriate time whether at a price reduction or top quality to the marketplace price tag”.

A number of general public and non-public sector banking companies are increasing cash to reinforce their buffer amid the pandemic.



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